Before you buy an existing business, find out if the business owes any Texas taxes. An Asset Purchase Agreement is a legally binding contract between a buyer and a seller that details the terms and conditions of the sale of a business's assets.THIS ASSET PURCHASE AGREEMENT (this "Agreement") is made and entered into as of. Buying or selling a business in Texas may be a demanding experience. The buyers and sellers of a group of assets that make up a business use Form 8594 when goodwill or going concern value attaches. Avoiding common negotiating mistakes when buying or selling a business in Texas is essential for a smooth transaction. For more information on what to put into your asset purchase agreement, contact Dan Burke Attorney at Law for your legal documentation.