(a) The Seller is a corporation duly organized, validly existing and in good standing under the laws of the State of New York. An asset purchase agreement should describe as specifically as possible the business assets being transferred.A business sale agreement is a legal document that describes and records the price and other details when a business owner sells the business. 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. Seller is a corporation duly organized, validly existing, and in good standing under the laws of the State of New York. Identify the parties involved in the transaction. 2. The easiest way to create a Business Purchase Agreement is to use a template that is customized to your state.