Quarter Days


Also found in: Dictionary, Thesaurus, Legal, Financial, Wikipedia.

Quarter Days

Various
The four traditional quarter days in England, Northern Ireland, and Wales are Lady Day (March 15), Midsummer Day (June 24), Michaelmas (September 29), and Christmas Day (December 25). They mark off the four quarters of the year and the times at which rents and other payments are due. It was also customary to move into or out of a house on a quarter day.
In Scotland the quarter days are Candlemas (February 2), Pentecost (or Whitsunday, the seventh Sunday after Easter), Lammas (August 1), and Martinmas (November 11).
See also Cross-Quarter Days
SOURCES:
DictDays-1988, pp. 18, 66, 73, 75, 93, 131
DictFolkMyth-1984, p. 601
FestSaintDays-1915, pp. 163, 166, 204
OxYear-1999, pp. 521, 588
RelHolCal-2004, p. 268
(c)
References in periodicals archive ?
Quarter day is also expected to result in landlords and tenants at loggerheads, as the two clash over the matter of paying quarterly rates in advance.
Steps to smooth cashflow pressure on retailers, such as replacing the long-standing Quarter Day rental arrangements for commercial premises with a monthly option, could give struggling high street retailers more breathing space in their battle against online rivals.
Ross, who is chair of the North East arm of insolvency trade body R3, and a director in the corporate recovery department of the Sunderland office of accountancy firm RSM Tenon, spoke out as commercial landlords were due to receive their latest Quarter Day payments from tenants.
In the overwhelming majority of leases of commercial premises, the rent is paid by four equal quarterly instalments in advance, and most rent payment days are the usual quarter days.
THIS Thursday is the Autumn Equinox (also known as Mabon and the Harvest festival), one of the quarter days of the year, a Lesser Festival celebrated by witches, pagans and many others who follow a spiritual path.
Normalizing days sales outstanding to exclude the 2006 incremental maintenance renewal accounts receivable and pro forma effects of a full quarter's revenue for Requisite, fourth quarter days sales outstanding was 84 days as compared to third quarter 2005 days sales outstanding of 93 days.
Where tenants have previously been able to negotiate break clauses in their leases, the trigger dates for serving notices are typically on the traditional quarter days - of which Christmas Day is one.
For example a break clause may stipulate as a condition that all rent should have been paid and the rent is payable quarterly in advance on the usual quarter days.