3.1. The Vendor shall sell and the purchasers shall purchase the business and assets described in the Schedule hereto. Get your business purchase agreement form template now and ensure your transaction is secure with expert tips from Moton Legal Group.An APA is a legallybinding contract between a buyer and seller that finalizes the terms and conditions of an acquisition. A Sale of Business Assets Agreement is a contract that covers the sale and purchase of tangible and intangible assets of a business. Business assets are not considered legally transferred without a properly executed Business Purchase Agreement between the seller and purchaser.