Identify the parties involved in the transaction. 2. The agreement usually has two parts: the statement of work, and the terms and conditions.ASSET PURCHASE AGREEMENT between SHIRE LLC and TRAVIS C.MICKLE, PH.D., AND KEMPHARM, INC. This guide will help you understand how to fill out and sign a business purchase agreement template so that everyone's best interests are protected. Various instances may result in breach of contract between the seller and the buyer in purchase agreements such as delivery of wrong goods.