This lecture covers the concepts of eutectic and peritectic transformations in binary systems, where a liquid phase coexists with two solid phases. The instructor explains the formation of eutectic alloys, their unique melting behavior, and the miscibility of the solid phases. The lecture also delves into phase diagrams, the rule of levers for phase equilibrium, and the decomposition of real diagrams into single-phase, two-phase, and invariant zones. Additionally, the importance of surface energy in phase transformations and the germination process in materials science are discussed, along with the heterogeneous microstructure of cast metal alloys.