It's right to elicit contract (6)
I believe the answer is:
reduce
'contract' is the definition.
('reduce' can be a synonym of 'contract')
'it's right to elicit' is the wordplay.
'it's right' becomes 'r' (common abbreviation).
'to elicit' becomes 'educe' ('educe' can be a synonym of 'elicit'**).
'r'+'educe'='REDUCE'
(Other definitions for reduce that I've seen before include "'Cut down, abridge (6)'" , "Decrease" , "Shrink" , "Bring down" , "Contract" .)