Which of the following represents a valid legal contract?

A valid legal contract is one that meets certain criteria, including offer, acceptance, consideration, legal capacity, and a lawful purpose. In the scenario presented, Lola signing a contract to appoint Kirk as her listing agent exemplifies these required elements effectively.

The contract is valid because it reflects a mutual agreement between both parties, where Lola, having the legal capacity to enter into contracts, willingly accepts the terms set forth by Kirk. Additionally, the contract serves a lawful purpose, as real estate transactions are a commonly recognized and legitimate business activity. This arrangement does not involve any illegal activities or factors that would invalidate the agreement.

In contrast, the other scenarios fail to meet the necessary legal criteria. For instance, Bethany's inebriation might impair her capacity to contract, while Paul's agreement to commit a crime makes the contract illegal and thus unenforceable. Theo's signing a lease just before turning 18 raises issues regarding his legal capacity, as minors typically lack the authority to enter into binding agreements without parental consent.