D wants to borrow $1000 from C. C, suspects that D may have trouble repaying the

Question

D wants to borrow $1000 from C. C, suspects that D may have trouble repaying the loan, requests additional security. D gets S to promise C that she will pay D's debt in the event that D first defaults. This agreement: Is covered by the Statute of Frauds because it is for an amount exceeding $500.
       Is covered by the Statute of Frauds because it is a collateral contract.
       Is not covered by the Statute of Frauds because S is not the executor or administrator of an estate.
    Is not covered by the Statute of Frauds because it is an original contract rather than a collateral contract.
     None of the above

Explanation / Answer

This agreement is not covered by the Statute of Frauds because S is not the executor or administrator of an estate.

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