Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. RECITALS. THIS ASSET PURCHASE AGREEMENT (the "Agreement"), dated as of January 30,.A business sale transaction can take several forms: (1) sale of assets, (2) sale of stock, (3) merger, ( 4) consolidation, or (5) share exchange. Prior to Closing, the Company shall have complete control over the operation of the Business Assets. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. In consideration of the Purchase Price and other covenants set forth in this.