Use a California business purchase agreement to record the sale of a business. Download your free template today.Whether you are a business buyer or seller, contact San Diego Corporate Law for a consultation to discuss your business sale options. A business purchase agreement is a legal contract specifying terms for buying or selling a business, including conditions and obligations. Identify the parties involved in the transaction. 2. A Purchase and Sale Agreement for a Business sets out the final transaction between a buyer and a seller of a business. It is generally fairly detailed. A Business Purchase Agreement is entered into between a seller and purchaser for rights to the business. A commercial purchase agreement is a legal real estate contract that transfers commercial property ownership from a seller to a buyer. AXESSTEL has agreed to supply the Product to TTL and TTL has agreed to purchase the Product on the terms and conditions as mentioned in this Agreement.