This document is an agreement for the sale and purchase of a business and assets as a going concern. An asset purchase agreement (APA) is a legal document that contains the terms and conditions of a sale and purchase of assets between a buyer and a seller.Create your Asset Purchase Agreement. Fill in the form below to have our free APA template emailed to you. This legal template is a simple asset purchase agreement that focuses on immediate completion under UK law. It's an agreement which sets out the terms under which business and assets are to be purchased or transferred. One of the key points to consider in an asset purchase is that you can pick and choose which assets and liabilities you will obtain. An asset purchase agreement is the key document that enables the purchase of some or all of the assets of a business. As the name suggests, in an asset purchase, the buyer acquires certain assets and rights relating to a business.