BIC TIP #1109: Holidays Count… Whether You Like It or Not
North Carolina brokers love a good long weekend, but Form 2-T does not share that sentiment. Under Standard Form 2-T, “days” means consecutive calendar days—including Saturdays, Sundays, and every holiday from New Year’s Day to National Donut Day. That definition applies unless the Contract specifically states otherwise.
Why does this matter? Because the Settlement/Closing delay provision grants a seven-day delay period, and every one of those days gets counted, holiday or not. When the seventh day expires, the clock does not pause for turkey, fireworks, or gift-wrapping.
On Day Eight, the non-delaying party may choose to terminate the Contract and pursue any remedies available under Form 2-T for breach. In other words, missing a deadline because it fell on a holiday is still missing a deadline. Compliance never takes a vacation.
Notorious BIC Tip:
Never let a holiday surprise you. The Contract counts every day, and so should you. When in doubt, calendar it out—your future self will thank you.
