If you are thinking about purchasing a business from someone, you should be aware of Pennsylvania's Bulk Sale Law. The election provides for no GST (or HST in the HST provinces) to be payable in respect of the purchase and sale of the assets and reduces the cash.The Osprey Plant acquisition, including Federal Energy Regulatory Commission. ("FERC") approval in accordance with the terms of the Asset Purchase and Sale. Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. The FEDERAL REGISTER is published daily, Monday through. A somewhat basic level high level presentation on the nuts and bolts of asset purchase sale transactions.