Which holidays count as business days?

When a holiday approaches brokers may wonder if it counts as a business day for purposes of the time periods and deadlines in the OREF #001 - Residential Real Estate Sale Agreement. Both the sale agreement and ORS 696 define business days as days other than Saturday, Sunday, Federal holidays, or Oregon holidays.
The following are not business days because they are Federal Holidays or Oregon holidays, or both]

  • New Year’s Day

  • Martin Luther King, Jr.'s Birthday

  • Presidents Day Memorial Day

  • Independence Day

  • Labor Day Columbus Day

  • Veterans Day

  • Thanksgiving Day

  • Christmas Day

What about the day after Thanksgiving? Some state agencies recognize it as a holiday.

From OREF Forms Counsel:

Section 32(5) of the Residential Real Estate Sale Agreement (OREF 001) says “(5) A “business day” shall mean Monday through Friday, except recognized state and/or federal holidays.” There are many closures or “observed holidays” that are not “recognized holidays.” For example, some agencies consider the day after Thanksgiving to be a holiday, and some consider declared days of mourning to be holidays.

Instead of trying to reconcile all of that, OREF uses “legal holidays,” which are described in statutes: this one for Oregon and this one for the U.S. Keep in mind that these websites have not yet been updated to cover Indigenous Peoples Day (Oregon) or Juneteenth (Oregon and U.S.), but those are now legal holidays due to laws passed this year.