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Good morning, everyone, and welcome
to the third lecture on contract law.

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Today we will look at three things.

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First, what makes a contract valid?

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Second, what happens when one
party does not pay on time?

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And third, how courts decide on damages.

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Let us begin with the first question.

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A contract needs an offer, an acceptance,

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and something of value
exchanged between the parties.

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अब हम दूसरे सवाल पर आते हैं।

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अगर किराएदार समय पर किराया नहीं देता है,

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तो मकान मालिक को पहले
लिखित नोटिस देना होगा।

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नोटिस में बकाया राशि और भुगतान की
आखिरी तारीख साफ लिखी होनी चाहिए।

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Thank you.

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Let us take a short break and
continue with damages in ten minutes.