Allcast Co Agrees to Lease Shop Premises from Brickcourt Properties

Allcast Co agrees to lease shop premises from Brickcourt Properties for two years. Section 2 of the Law of Property (Miscellaneous Provisions) Act 1989 requires such contracts to be made in writing and signed by both parties. Allcast agrees with Brickcourt that they will sign the formal contract before the weekend, whereupon Brickcourt contracts with a subcontractor to begin fixing up the premises by next week. Before the weekend, Allcast has found a more suitable property and informs Brickcourt that they will no longer sign the lease. Can Brickcourt prevent Allcast from escaping the agreement?

A) No, the agreement is not supported by consideration.
B) Yes, the lease agreement is supported by consideration and thus there is no need to comply with formalities.
C) Yes, although the parties have not complied with the necessary formalities, Allcast is estopped from resiling on its promise.
D) No, the agreement is supported by consideration, but, since the parties have not complied with the necessary formalities, the contract is void