Definition of quarter day in English:

quarter day

noun

British
  • Each of four days fixed by custom as marking off the quarters of the year, on which some tenancies begin and end and quarterly payments of rent and other charges fall due.

    • ‘It terminates if thereafter either party to the agreement (including the tenant's personal representatives in the case of death) serves on the other one month's notice, expiring on a quarter day.’
    • ‘The rate of corporate insolvencies tends to rise around quarter days and the difficulties that businesses are now facing will only exacerbate that.’
    • ‘Until comparatively recently in Scotland, the Celtic new year's day was one of the four ancient quarter days on which rents were due, leases came up for renewal and annual employment contracts ended.’
    • ‘As a result of the Landlord and Tenant Act, however, the lease automatically continues and so the Act provides that the Tenant must give at least three months notice either to end on the last date of the lease or on a quarter day’
    • ‘Many landlords are themselves affected by the disease and are aware of the difficulties that will arise at the coming quarter day (when rents fall due, March 25).’

Pronunciation:

quarter day

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