A sales agreement for buying a business is necessary for keeping both the parties on the same page and avoiding any legal trouble. An asset purchase agreement is a legal document used when buying or selling a small business.Read on to understand the basics. The Asset Purchase Agreement Checklist outlines important considerations for buying or selling a business, including assets, liabilities, and contracts. Asset Purchase Agreement between The Kraft Heinz Company and Hormel Foods Corporation dated as of February 10, 2021. Buyer desires to purchase all of Seller's assets so Buyer can operate a home inspection business in the same area.