The Collaborative International Dictionary of English v.0.48:

Contract \Con"tract\ (k[o^]n"tr[a^]kt), n. [L. contractus, fr.
   contrahere: cf. F. contrat, formerly also contract.]
   1. (Law) The agreement of two or more persons, upon a
      sufficient consideration or cause, to do, or to abstain
      from doing, some act; an agreement in which a party
      undertakes to do, or not to do, a particular thing; a
      formal bargain; a compact; an interchange of legal rights.
      --Wharton.
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   2. A formal writing which contains the agreement of parties,
      with the terms and conditions, and which serves as a proof
      of the obligation.
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   3. The act of formally betrothing a man and woman.
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            This is the the night of the contract. --Longwellow.

   Syn: Covenant; agreement; compact; stipulation; bargain;
        arrangement; obligation. See Covenant.
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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.
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            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.
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The Collaborative International Dictionary of English v.0.48:

Contract \Con*tract"\ (k[o^]n*tr[a^]kt"), v. i.
   1. To be drawn together so as to be diminished in size or
      extent; to shrink; to be reduced in compass or in
      duration; as, iron contracts in cooling; a rope contracts
      when wet.
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            Years contracting to a moment.        --Wordsworth.
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   2. To make an agreement; to covenant; to agree; to bargain;
      as, to contract for carrying the mail.
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The Collaborative International Dictionary of English v.0.48:

Contract \Con"tract\ (k[o^]n"tr[a^]kt), a.
   Contracted; as, a contract verb. --Goodwin.
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The Collaborative International Dictionary of English v.0.48:

Contract \Con*tract"\ (k[o^]n*tr[a^]kt"), a. [L. contractus, p.
   p.]
   Contracted; affianced; betrothed. [Obs.] --Shak.
   [1913 Webster]

WordNet (r) 3.0 (2006):

contract
    n 1: a binding agreement between two or more persons that is
         enforceable by law
    2: (contract bridge) the highest bid becomes the contract
       setting the number of tricks that the bidder must make [syn:
       contract, declaration]
    3: a variety of bridge in which the bidder receives points
       toward game only for the number of tricks he bid [syn:
       contract, contract bridge]
    v 1: enter into a contractual arrangement [syn: contract,
         undertake]
    2: engage by written agreement; "They signed two new pitchers
       for the next season" [syn: sign, contract, sign on,
       sign up]
    3: squeeze or press together; "she compressed her lips"; "the
       spasm contracted the muscle" [syn: compress, constrict,
       squeeze, compact, contract, press]
    4: be stricken by an illness, fall victim to an illness; "He got
       AIDS"; "She came down with pneumonia"; "She took a chill"
       [syn: contract, take, get]
    5: become smaller or draw together; "The fabric shrank"; "The
       balloon shrank" [syn: shrink, contract] [ant: expand,
       spread out, stretch]
    6: make smaller; "The heat contracted the woollen garment"
    7: compress or concentrate; "Congress condensed the three-year
       plan into a six-month plan" [syn: condense, concentrate,
       contract]
    8: make or become more narrow or restricted; "The selection was
       narrowed"; "The road narrowed" [syn: narrow, contract]
       [ant: widen]
    9: reduce in scope while retaining essential elements; "The
       manuscript must be shortened" [syn: abridge, foreshorten,
       abbreviate, shorten, cut, contract, reduce] [ant:
       dilate, elaborate, enlarge, expand, expatiate,
       exposit, expound, flesh out, lucubrate]