The succinct answer is a Master Agreement is a legal and binding contract that has established. I'm gonna break down all the terms and conditions so you can understand what it means and we're gonna fill that out so you can have a real-life example of it.Learn about real estate purchase agreements and review tips for agents to protect buyers with well-prepared real estate contracts and negotiations. A purchase and sale agreement s a legally-binding document that establishes the terms and conditions related to a real estate transaction. A sales agreement is a contract between a buyer and a seller that outlines the terms, conditions, and specifics of a transaction for selling goods or services. , an Arizona nonprofit corporation ("Seller"), and PIMA COUNTY. COMMUNITY COLLEGE DISTRICT, an Arizona community college district ("Buyer"). 1. Master Equipment Lease-Purchase Agreement and an Acquisition Fund and. Account Control Agreement in connection with the Issuance and Sale of the. County executes an agreement with the owner(s) to that effect.