(a) The Seller is a corporation duly organized, validly existing and in good standing under the laws of the State of New York. A business sale agreement is a legal document that describes and records the price and other details when a business owner sells the business.This Asset Purchase Agreement ("Agreement") is made effective as of December 14,. An asset purchase agreement should describe as specifically as possible the business assets being transferred. Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. This simple Asset Purchase Agreement template is a contract for the sale and purchase of assets of a company. This template is drafted in a way such that seller will be selling material contracts, inventory, machinery, equipment, and vehicles used in the business.