A CABB asset purchase agreement is the detailed description of the assets being transferred. The undersigned Seller accepts and agrees to sell the Business on the terms on the above terms and conditions.A seller's permit is required of a person engaged in the business of selling tangible personal property. Once you have a general agreement with the buyer, the buyer usually drafts and signs a non-binding letter of intent. Whether you are a business buyer or seller, contact San Diego Corporate Law for a consultation to discuss your business sale options. A Practice Note explaining the statutory framework for asset sales in California and successor liability under California law.