The agreement should clearly specify the purchase price, including any adjustments or contingencies. This Asset Purchase Agreement (the Agreement ) is made as of the 22nd day of February,.This short-form asset purchase agreement is for use in the sale of a seller's assets for cash. Use a California business purchase agreement to record the sale of a business. Download your free template today. The asset purchase agreement checklist identifies what should be considered for buying or selling a company, involving the assets, liabilities, and contracts. A lease has a minimum noncancelable contract term greater than 12 months.