This guide will break down the ins and outs of asset purchase agreements for multiple owners, making this complex legal topic more digestible and actionable. 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.The Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the State of New York. 3.2. This Asset Purchase Agreement ("Agreement") is made effective as of December 14,. An asset purchase agreement (APA) is a legally binding document that details the terms and conditions related to the purchase and sale of a company's assets. Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller.