ID   CODE            VALUE
1.   BusinessType    IT
2.   BusinessType    Marketing
3.   ContractType    General
4.   ContractType    Custom

public class Contract
{
   [Key]
   public int ID{get; set;}
   public string Name{get; set;}

   [ForeignKey("CodeValue")]
   public int BusinessTypeID{get; set;}

   [ForeignKey("CodeValue")]
   public int ContractTypeID{get; set;}

   public virtual CodeValue CodeValue {get; set;}
}

public class Contract
{
   [Key]
   public int ID { get; set; }
   public string Name { get; set; }

   [ForeignKey("BusinessType")]
   public int BusinessTypeID { get; set; }

   [ForeignKey("ContractType")]
   public int ContractTypeID { get; set; }

   public virtual CodeValue BusinessType { get; set; }
   public virtual CodeValue ContractType { get; set; }
}