An asset purchase agreement (APA) is a legal document that serves as a framework for how business assets will be transferred from the seller to the buyer. This Asset Purchase Agreement (this "Agreement") is made and entered into as of this.An Asset Purchase Agreement is an agreement between a buyer and a seller of a business as to the terms and conditions of the sale of the business. A purchaser of the assets of a business will be liable for any unpaid sales tax of the seller, as well as any accrued interest and penalties related thereto. An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset.