This business sale agreement template can be used as a binding document to govern the sale of a business to a new owner. A Business Purchase Agreement is a contract that transfers a business entity from its owner to a new buyer.This contract is a legally binding document outlining the terms and conditions for the sale of a business and its assets. 3.1. The Vendor shall sell and the purchasers shall purchase the business and assets described in the Schedule hereto. A Business Sale Agreement helps you define and agree to the terms of the sale. This includes the purchase price and the closing details of the transaction. A business purchase agreement is a legal document used to set the terms and conditions of a business sale between a buyer and a seller. Finalize business transactions with a business sale agreement template that covers sale terms, warranties, and conditions. This template assumes the selling inspector is not selling real estate and is not leasing space for the inspection business.