Basic business terms appear only in the first few pages. Less important terms appear later.It will also need to include the information of the business being sold, such as name, location, description, and business entity type. 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. Identify the parties involved in the transaction. 2. A Business Purchase Agreement is entered into between a seller and purchaser for rights to the business. THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made as of this ____ day of. This guide will help you understand how to fill out and sign a business purchase agreement template so that everyone's best interests are protected. A sales agreement is used to describe and track the exact details of quantity and cost of purchasing or selling goods, services, or real estate. The easiest way to create a Business Purchase Agreement is to use a template that is customized to your state.