Explanation:

- Option 1: A valid contract

- For a contract to be valid, it must have an offer, acceptance, consideration, and mutual intent to be bound. Future agreements typically lack some of these elements.

- Thus, they are not considered valid contracts until finalized.

- Option 2: No contract

- Agreements to do something in the future usually don’t form a contract until all essential terms are set and conditions met.

- Hence, at the agreement stage, there's no legally binding contract.

- Option 3: An agreement

- This simply involves a mutual understanding.

- It's a promise that terms will be decided later, not forming a contract yet.

- Option 4: A consensus

- Refers to general agreement or harmony of opinion.

- It isn’t necessarily a legally binding contract.

- Correct Answer:

- Option 2: No contract