Here is an example of what a business purchase agreement might look like. An allocation of the purchase price is an essential component to a business sale transaction.Both buyer and seller have to work together to get it done. The sales agreement must clearly state the purchase price of the products or services being sold. An asset purchase agreement is a contract for the sale of a business or specific business assets. Sales contracts are legally binding written agreements that govern a transaction between a buyer and a seller. This article will help highlight for you what you to expect generally in terms of the sales process, timeline and documentation.