Commentary

11.2.4 Definition of ‘quarters’

BOILERPLATE AND COMMERCIAL CLAUSES vol 4(3)
| Commentary

11.2.4 Definition of ‘quarters’

| Commentary

11.2.4 Definition of ‘quarters’

If reference is made to quarters of a year in an agreement (such as royalty periods that are to be paid quarterly), the agreement should state which quarterly periods are to be applied (for example, 1 January to 31 March, 1 April to 30 June). If the periods are not stated, a court may interpret the use of such a term as referring to the traditional quarterly periods used in landlord and tenant law, which ended on a ‘quarter day’. The ‘usual quarter days’ (as distinct from another set of quarter days that apparently were used

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