Use a California business purchase agreement to record the sale of a business. Download your free template today.Business Assets To ensure that the assets of a business are included in a sale, the purchase agreement must explicitly list them. It may include details on the initial deposit, financing arrangements, and any escrow arrangements. This article discusses seven (7) types of seller liabilities that should concern a buyer when negotiating the purchase of a California business. Some of the most talented Los Angeles business purchase and sale lawyers in the state of California. FINANCE TERMS: Buyer represents that funds will be good when deposited with Escrow Holder. A business purchase agreement is a legal contract specifying terms for buying or selling a business, including conditions and obligations. Identify the parties involved in the transaction. 2.