Our spinal cord is protected by the cerebrospinal fluid and meninges along with the vertebral column. So, statement 1 is incorrect.
The spinal cord has both white matter and grey matter. The grey matter is seen in the inner part and houses the nerve cell bodies of neurons. Whereas, the white matter is seen outside and houses the myelinated axons of the neurons. The grey matter is made up of non-myelinated neurons and neural cell bodies, whereas the white matter is made up of myelinated neurons.