The Collaborative International Dictionary of English v.0.48:

Contract \Con*tract"\ (k[o^]n*tr[a^]kt"), v. t. [imp. & p. p.
   Contracted; p. pr. & vb. n. Contracting.] [L. contractus,
   p. p. of contrahere to contract; con- + trahere to draw: cf.
   F. contracter. See Trace, and cf. Contract, n.]
   1. To draw together or nearer; to reduce to a less compass;
      to shorten, narrow, or lessen; as, to contract one's
      sphere of action.
      [1913 Webster]

            In all things desuetude doth contract and narrow our
            faculties.                            --Dr. H. More.
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   2. To draw together so as to wrinkle; to knit.
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            Thou didst contract and purse thy brow. --Shak.
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   3. To bring on; to incur; to acquire; as, to contract a
      habit; to contract a debt; to contract a disease.
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            Each from each contract new strength and light.
                                                  --Pope.
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            Such behavior we contract by having much conversed
            with persons of high station.         --Swift.
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   4. To enter into, with mutual obligations; to make a bargain
      or covenant for.
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            We have contracted an inviolable amity, peace, and
            lague with the aforesaid queen.       --Hakluyt.
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            Many persons . . . had contracted marriage within
            the degrees of consanguinity . . . prohibited by
            law.                                  --Strype.
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   5. To betroth; to affiance.
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            The truth is, she and I, long since contracted,
            Are now so sure, that nothing can dissolve us.
                                                  --Shak.
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   6. (Gram.) To shorten by omitting a letter or letters or by
      reducing two or more vowels or syllables to one.

   Syn: To shorten; abridge; epitomize; narrow; lessen;
        condense; reduce; confine; incur; assume.
        [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

contracting \contracting\ n.
   the act or process of acquiring an infectious disease;
   contraction; as, the contracting of a serious illness can be
   financially catastrophic.

   Syn: catching.
        [WordNet 1.5]

WordNet (r) 3.0 (2006):

contracting
    n 1: becoming infected; "catching cold is sometimes
         unavoidable"; "the contracting of a serious illness can be
         financially catastrophic" [syn: catching, contracting]