Learn more about the terms of a purchase and sale agreement. Contact Attorney Peter Chase for more information.In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. An asset sale transaction involves the sale of some or all of the assets used in a business from a selling company to a buyer. The Woburn business law attorneys at Shapiro Law Group are able to handle your asset purchase and sales agreements and all of the legal services required. The Bill of Sale should list, or reference an attached exhibit listing, the specific assets which the buyer purchased.