An asset purchase agreement is a contract for the sale of a business or specific business assets. An asset purchase agreement is an agreement between buyer and seller that formalizes the purchase of a business or business asset.An asset purchase agreement is a type of contract that pertains specifically to the sale of a business or particular business assets. Check our exclusive articles about asset purchase agreements in Florida. If you need professional guidance, call us to (305) 921-0976. The most important document in an asset deal is the Asset Purchase Agreement (the "APA"). In this article, I will discuss the key provisions of an APA. The process required for an Asset Purchase Agreement has several steps to fulfill.