You (or the purchaser or transferee) must complete Form CBS-1, Notice of Sale, Purchase, or Transfer of Business Assets. Free Consultation - Call (312) 889-8702 - The Castle Law Firm helps companies with business matters in Business and Franchise Law cases.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. Below is a list of forms and information that may be required to complete a Request for Proposal Response. This contract sets out the key terms of the transaction, including the purchase price, payment terms, and the assets and liabilities included in the sale. This contract is a legally binding document outlining the terms and conditions for the sale of a business and its assets.