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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 किरायेदार 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

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आखरी तारीख साफ लिखी होनी चाहिए।

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Thank you. Let us take a short break
and continue with damages in 10 minutes.