In 2017 Eric was invited to invest in Shady Pines, whose developer, Slip Mahoney, assured him that it would be a fastgrowing and highly profitable real estate venture. Eric acquires a 1%-interest in Shady Pines by giving a note payable dated July 15,2017 , to Shady Pines for $500,000, payable five (5) years from the date of signing. By the time the note came due (July 15, 2022), it had already been discovered that Slip Mahoney had been convincing people (including Eric) to invest in this project by knowingly giving them false information and projections about its future profitability. 1. Shady Pines sues Eric, asserting Eric's obligation under UCC \$3-412 to pay on the note according to its terms. Will Eric have to pay the $500,000 due on the note? 2. Assume that Shady Pines sold the note on September 15, 2017, to Unity Bank and Trust instead of holding the note to maturity. The bank did not know Mahoney had misinformed investors when purchasing the note. The bank sues Eric when he refuses to pay the $500,000 when due. Is Unity Bank and Trust entitled to collect this amount from Eric