Rafferty was the sole shareholder of Continental Corporation and, as a result, he received the all of the dividends. Continental was anxious to close an important deal for iron ore products to be used in its business. A written contract was presented to Stage Corporation for the sale of the ore to Continental. Stage, however, was cautious about signing the contract, and it was not until Rafferty called Stage Corp. on the telephone and orally stated that, if Continental did not pay for the ore, he would pay, that Stage signed the contract. Business reverses struck Continental and it failed. Stage sued Rafferty for the sales price of the ore. Rafferty asserts the defense of the Statute of Frauds (i.e. his guarantee was not in writing). Should it apply or should the main purpose/leading object exception apply? Explain.