This guide will break down the ins and outs of asset purchase agreements for multiple owners, making this complex legal topic more digestible and actionable. The details of the purchase and transfer of Assets to the Buyer are reflected in the Bills of Sale.The Purchase Price shall be paid at the Closing as follows: (a). 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. An APA is a legallybinding contract between a buyer and seller that finalizes the terms and conditions of an acquisition. Key Provisions in Asset Purchase Agreements.