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. The following information has been developed to answer your questions regarding formation of an LLC and to assist in the filing of the Articles of Organization.THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made as of this ____ day of. The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. A Business Purchase Agreement is a contract that transfers a business entity from its owner to a new buyer. The most important document in a business sale is the "purchase agreement" (also known as the "sales agreement" or "acquisition agreement").