Step 1: Check the definition first. Texture describes the size distribution of mineral particles, sand, silt and clay, expressed as a percentage by weight. This is a standard textbook fact, so Statement (I) stands.
Step 2: Now reason about aeration from pore size. Coarse sandy soils have large pores and drain fast, giving good aeration. Fine clayey soils have tiny pores that retain water and restrict air movement, so their aeration is rated medium to poor. Statement (II) also stands.
Step 3: Since neither statement can be disproved, both are correct together.
\[oxed{ ext{Both Statement (I) and Statement (II) are correct}}\]