THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made as of this ____ day of. A business sale agreement is a legal document that describes and records the price and other details when a business owner sells the business.This outline provides an overview of each of these issues concerning the purchase or sale of a small business. Key elements typically included in a Business Bill of Sale are: Purchase Price: The total amount the buyer agrees to pay for the business. A buy and sell agreement is a legally binding contract that spells out how and to whom a departing owner's shares will be transferred. An APA spells out the conditions and terms under which a seller will transfer all of the assets that belong to the business to a buyer. ABC CORPORATION, a New York corporation (the "Purchaser"). The buyer must fully understand the terms and conditions in the purchase agreement. This includes knowing how a specific term may influence the purchase price.