Quarter days are four days that each mark the beginning of one quarter of the year. They are traditionally regarded as settling days for certain debts that are payable in quarterly installments, such as electric service, gas, and telephone accounts.
In England, Wales, and Ireland, the quarter days are four religious festival days that fall about three months apart. They are Lady Day (The Feast of the Annunciation, March 25), Midsummer Day (The Feast of Saint John the Baptist, June 24), Michaelmas Day (The Feast of Saint Michael and All Angels, September 29), and Christmas Day (The Feast of the Nativity, December 25).
In Scotland, the quarter days are known as term days. They are Candlemas (the Feast of the Purification, February 2), Whitsunday (Pentecost, always on May 15 in Scotland), Lammas (Long Mass, or the Feast of First Fruits, August 1), and Martnmas (The Feast of Saint Martin, November 11).