Terminal sale is a one-time sale of a total inventory of goods or the sale of the stock of goods of a business advertising or holding itself out to be terminating commercial operations at a fixed place of business. The term is synonymous with an “insurance,” “bankruptcy,” “damaged goods,” “insolvency,” “assignee's,” “executor's,” “administrator's,” “receiver's,” “trustee's,” “creditor's,” “forced re-removal,” “closing out,” “lost lease,” “we quit” and other sales similarly designated.
(`64 Code, Sec. 20-3) (Ord. No. 2452)