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. An asset purchase agreement (APA) is a legally binding document that details the terms and conditions related to the purchase and sale of a company's assets.An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. Signing new paperwork can be used as an opportunity to provide a warm welcome, outline important policies or procedures the new employee will need to know. Amended and Restated Asset Purchase Agreement and Bill of Sale from MAGNEGAS APPLIED TECHNOLOGY SOLUTIONS, INC. An asset purchase agreement is a legal contract that outlines the terms of an agreement to transfer assets between parties.