What personal attributes may limit a person's capacity to contract?

The correct answer focuses on the personal attributes of age and mental competence, which are fundamental to an individual's ability to enter into contracts validly.

In many jurisdictions, including Ontario, there are specific laws regarding the legal age to contract, typically requiring individuals to be at least 18 years old. Those younger than this specified age may lack the legal capacity to bind themselves to contractual obligations, leading to contracts being voidable at their discretion.

Mental competence is another crucial factor; individuals must be of sound mind when entering a contract. This means they need to understand the terms and implications of the agreement. If a person is mentally incapacitated or unable to comprehend the nature of the contract due to a mental condition, the contract may be deemed void or voidable.

These factors are essential in ensuring that all parties can make informed decisions and are protected by law. The other options, while they may influence a person's ability to fulfill a contract, do not inherently limit the legal capacity to enter into one. They pertain more to the financial implications of entering a contract rather than an individual's fundamental right to do so.