A security purchase agreement refers to an agreement under which one buys or sells a security, i.e. Define terms of a franchise business purchase.Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller. An asset purchase agreement is a legal contract that outlines the terms of an agreement to transfer assets between parties. 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. Establish terms for sale and purchase of an asset.