An APA, or Asset Purchase Agreement, is a contract in which a buyer and seller agree to the transfer of ownership for an asset at an agreed price. WHEREAS, Seller wishes to sell, and Buyer has agreed to purchase, substantially all of the assets of the Business pursuant to the terms set forth herein.1. Collect details of the seller and buyer. 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. An asset purchase agreement (APA) is a legally binding agreement used when a company wishes to buy or sell specific assets of another business. 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.