Accepts another contract and quits (7)
I believe the answer is:
resigns
This clue could be a double definition.
'accepts another contract' is the first definition.
'resigns' can be an answer for 'accepts' (resigning is a kind of accepting). I am not certain of the 'another contract' bit.
'quits' is the second definition.
(resigning is a kind of quitting)
'and' is the link.
Can you help me to learn more?
(Other definitions for resigns that I've seen before include "abdicates" , "does the honourable thing" , "Gives up (a post)" , "Leaves job voluntarily" .)