As adjectives the difference between taut and contract
is that
taut is tight; under tension, as in a rope or bow string while
contract is contracted; affianced; betrothed.
As a noun contract is
an agreement between two or more parties, to perform a specific job or work order, often temporary or of fixed duration and usually governed by a written agreement.
As a verb contract is
to draw together or nearer; to shorten, narrow, or lessen.