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. Section 501.14 Standards for Awarding Contracts.For all purposes, the parties agree that the Purchase Price shall be allocated among the Purchased Assets in the manner set forth in Schedule 1.5. 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. 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. By signing below, I acknowledge that I have read this Spot Delivery.