The purpose of this policy is to summarize the capital asset policies and procedures for Cuyahoga County ("the County"). A purchaser of the assets of a business will be liable for any unpaid sales tax of the seller, as well as any accrued interest and penalties related thereto.Asset Purchase Agreements (APAs) are essential documents for asset sales, but they're far more complex than a simple transaction. An Asset Purchase Agreement is an agreement between a buyer and a seller of a business as to the terms and conditions of the sale of the business. In an asset purchase, the buyer agrees to purchase specific assets and liabilities. This means that they only take on the risks of those specific assets.