Crossword Genius

Less than pleased with the contract (5)

Ross

I believe the answer is:

lease

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'less than pleased with the contract' is the definition.
I can't tell whether this defines the answer.

'pleased with the contract' is the wordplay.
'the contract' says the answer is hidden in the clue (I've seen 'contracted' mean this).
'LEASE' is hidden in the letters of 'pleased with'.

Can you help me to learn more?

(Other definitions for lease that I've seen before include "From legal document" , "Rent -- easel (anag)" , "Contract for, say, use of building" , "Tenancy contract" , "Summer's has too short a date (Shak.)" .)

I've seen this clue in The Globe and Mail.
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