That's the way the old style Contenders were designed. The new G2 Contender doesn't do this. However, the general concensus is that the old Contenders have a much better trigger, the take-up, overtravel, pull wieght, and general overall quality is better. Therefore, the old Contender is still a much sought after item.
On the other side of the fence, the G2 is a little bit beefier, allowing one or two cartridges that would be risky in the old Contender (444 Marlin, 30-40 Krag, 7.62x39 and a few others). The grip angle of the G2 feels better (to me that is). The G2 is a simpler design also, and is relatively easy for anyone to work on. The trigger pull of the G2 can be lightend by simply changing out the sear spring with a lighter spring.
Hope this helps, there is nothing wrong with your Contender....