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AJAYAJAY 

i have a doubt actually there is another tab called contracts in the developer org,how are account,contact,opportunity related to that contract and suppose if i have any changes to be made into any of those three objects,how does it effect the contract?

DeepthiDeepthi (Salesforce Developers) 

Hi Ajay,

There is a relationship between Account and Contract. 
A contract is a written agreement between two or more parties. Many companies use contracts to define the terms for doing business with other companies.
Use Salesforce to establish and document the contracts you have with your accounts. Then, track the contract through your organization’s approval process and use workflow alerts to notify yourself when to initiate contract renewals.

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https://help.salesforce.com/apex/HTViewSolution?id=000004947&language=en_US 

http://salesforce.stackexchange.com/questions/72698/relationship-between-opportunity-and-contract 

Hope this helps you!
Best Regards,
Deepthi