An asset purchase agreement is a legal document that outlines the terms and conditions of buying or selling assets in a business transaction. A Business Purchase Agreement can be used for business acquisitions involving a sale of assets or a sale of all shares.Identify the parties involved in the transaction. 2. An Asset Purchase Agreement is an agreement between a buyer and a seller of a business as to the terms and conditions of the sale of the business. The most important document in an asset deal is the Asset Purchase Agreement (the "APA"). In this article, I will discuss the key provisions of an APA. Seller desires to sell and Buyer desires to purchase certain assets of Seller used in the Business in accordance with the terms and conditions contained herein.