You (or the purchaser or transferee) must complete Form CBS-1, Notice of Sale, Purchase, or Transfer of Business Assets. A Sales and Purchase Agreement (SPA) is a legal contract that details the agreement's terms and conditions.Identify the parties involved in the transaction. 2. Download our business purchase agreement templates for free, and ensure that you have a smooth and easy sale process. Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. This contract is a legally binding document outlining the terms and conditions for the sale of a business and its assets. Create, commit to, and manage your agreements all in one platform with Docusign IAM. Electronically sign for free. This business sale agreement template can be used as a binding document to govern the sale of a business to a new owner.