Crosspurchase agreements are agreements where business owners purchase a departing owner's interest in the business. The general rule is that contracts are freely assignable and can be transferred from one party to another.There are, however, exceptions to this general rule. A supplier, when considering the distribution of goods, will need to decide whether to appoint an agent or a distributor. One way of safeguarding a business is to create a buy-sell agreement. It is crucial to understand and negotiate the terms in detail. This includes identifying the parties' needs, assessing the value of the property being licensed. I'm gonna break down all the terms and conditions so you can understand what it means and we're gonna fill that out so you can have a real-life example of it. A business purchase agreement is a legal contract specifying terms for buying or selling a business, including conditions and obligations. Clark's Publishing Agreements has long been the 'must have' legal resource for the publishing industry.