This agreement defines key details such as the purchase price, payment terms, transfer of assets, and liabilities. ASSET PURCHASE AGREEMENT Relating to Certain Assets of McARTHUR TOWEL AND SPORTS, INC.An asset purchase agreement, or asset sale agreement, should contain details about the business, buyer, seller, and assets acquired through the transaction. This document outlines the terms and conditions of a transaction where one party agrees to purchase specific assets from another. A security purchase agreement refers to an agreement under which one buys or sells a security, i.e. Establish terms for sale and purchase of an asset.