Explanation:

- In legal terms, the ability to engage in contracts often depends on the right of transferable property.

- Contracts involve agreements where rights or property might be transferred between parties.

- Option 1: Transferable: This means the property can be legally transferred from one party to another, making it possible to enter agreements and execute contracts based on this right.

- Option 2: Nontransferable: This refers to property that cannot be transferred, which would limit the ability to contract regarding it.

- Option 3: Legal: A legal right means it is recognized by law but doesn’t specifically address transferability.

- Option 4: Illegal: This refers to rights not recognized by law and cannot form a valid basis for contracts.