This guide will break down the ins and outs of asset purchase agreements for multiple owners, making this complex legal topic more digestible and actionable. An Asset Purchase Agreement (APA) is a legally binding contract that outlines the terms and conditions of a business sale or acquisition.Preclosing liabilities in the face of express contractual language in the asset purchase agreement to the contrary. Please complete the form below to create the Asset Purchase Agreement Template. All fields must be filled out to ensure a clear and complete agreement.