Fred agreed to loan George $$10,000$ for his retail store for which George signed a promissory note. Two months later, Fred heard that George's business was in trouble and that he might not be able to repay the loan. As a result of hearing this information, Fred asked Herman to guarantee the loan. Herman gave a glowing oral endorsement of George and of George's business and then orally promised to pay the $$10,000$ if George did not. Herman has done business with George for $10$ years and George buys his entire inventory from Herman's wholesale outlet. Herman adds that George is his major customer. Is Herman's agreement to pay the $$10,000$ if George does not pay it enforceable?

Group of answer choices

No$,$ because there is a personal defense available

Yes, because Herman's is a conditional guaranty of collection

No$,$ because the statute of frauds requires that the suretyship agreement be in writing

Yes, because even though the statute of frauds applies, the main purpose rule exception will probably make the agreement enforceable