quarter day

(redirected from Quarter days)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia, Wikipedia.

quarter day

any of four days in the year when certain payments become due. In England, they are Lady Day (25 March), Midsummer Day (24 June), Michaelmas Day (29 September) and Christmas Day (25 December). For Scotland the days are Candlemas (28 February), Whitsunday (28 May), Lammas (28 August) and Martinmas (28 November).
Collins Dictionary of Law © W.J. Stewart, 2006

QUARTER DAY. One of the four days of the year on which rent payable quarterly becomes due.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
Mentioned in ?
References in periodicals archive ?
Mr Haslam's comments come after the latest Quarter Day, on which commercial rental payments are traditionally due - and after Newcastle United and House of Fraser owner Mike Ashley cited "greedy landlords" for putting three stores in jeopardy amid difficulties agreeing on rents.
The Annual Lady Lectures are part of the Quarter Days cultural programme organised as part of the Rothley Parish Church Heritage Lottery Fund Project.
The other Quarter Days are Lady Day (March 25), Michaelmas (September 29) and Christmas Day (25 December).
There are deeper, silent ways to brace for a new set of 365 and a quarter days, and they number and signify more than the noise that the stroke of midnight to Jan.
Mr Wood said that over the past three years a number of high-profile firms had gone into administration on these quarter days , which fall in March, June, September and December, after they did not have sufficient funds to pay their rent.
Quarter day - when many retailers pay three months rent in advance to landlords - is often the tipping point for insolvency and previous quarter days have seen the likes of Habitat, Jane Norman and TJ Hughes enter administration.
It follows both the motion of the sun, which passes through the zodiac, determining the seasons, in 365 and one quarter days, and that of the moon, which does the same in 29 and a half days, defining the months.
This must be done because Earth does not take 365 days to orbit the sun, it takes closer to 365 1/4 days (we add one day in every fourth year to make up for the quarter days).
This maintained the real length of the year at 365 and a quarter days, while accommodating a lunar year in which twelve lunations would cover only 354 days.
At that rate he would have repaid the missing money in two and a quarter days.
And it is to be remembered that this Act does in no wise effect [sic] the Quarter Days, although the Feasts on which they depend, are altered eleven days sooner in the New Style, yet the old Days are marked in the Almanacks with Red Letters, and called Old Michaelmas, Martinmas, &c., which are to be observed in settling of Estates, Payments of Annuities, Rents, Bonds, Notes, &c.