On the terms and conditions contained in this Agreement,. The documents you need to buy or sell a business depend on the structure (discussed here) and complexity of the deal as well as its specific terms.ASSET PURCHASE AGREEMENT Relating to Certain Assets of McARTHUR TOWEL AND SPORTS, INC. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. Establish terms for sale and purchase of an asset.