Use a California business purchase agreement to record the sale of a business. Download your free template today.This article discusses seven (7) types of seller liabilities that should concern a buyer when negotiating the purchase of a California business. Identify the parties involved in the transaction. 2. Some of the most talented Los Angeles business purchase and sale lawyers in the state of California. A business purchase agreement is a legal contract specifying terms for buying or selling a business, including conditions and obligations. Simantob Law Group's business purchase and sale attorneys have the expertise and track record to assist business purchasers and sellers.