Buyer desires to purchase all of Seller's assets so Buyer can operate a home inspection business in the same area. Basically, a buysell agreement is an exit strategy for you and your business partners.Identify the parties involved in the transaction. 2. A buyout agreement protects business owners when a coowner wants or has to leave the company and protects the owner who's leaving. A business purchase agreement is a legal contract specifying terms for buying or selling a business, including conditions and obligations. Discusses all of the key documents you need to buy or sell a business, including the principal transaction agreement and common ancillary documents. The easiest way to create a Business Purchase Agreement is to use a template that is customized to your state.