Include the full name of the seller and buyer, their addresses, and other contact information. The easiest way to create a Business Purchase Agreement is to use a template that is customized to your state.While you can use this form to summarize your purchase agreement, we may require additional documents during the review process. The sale agreement format outlines all the important terms and conditions that would follow towards a sale or purchase of a business. For all purposes, the parties agree that the Purchase Price shall be allocated among the Purchased Assets in the manner set forth in Schedule 1.5. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. Gov(opens in a new window). 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.