Identify the parties involved in the transaction. 2. A business purchase agreement is a legal contract specifying terms for buying or selling a business, including conditions and obligations.The above recitals are incorporated into this Contract as if fully set forth herein. These are the terms and conditions of sale (the "Terms") for products and related materials (collectively, the "Products"). The Buyer desires and intends to acquire the Shares from the Shareholders at the price and on the terms and subject to the conditions set forth below. I'm gonna break down all the terms and conditions so you can understand what it means and we're gonna fill that out so you can have a real-life example of it. And Wespac Holdings LC and Other Business Contracts, Forms and Agreeements.