An asset purchase agreement is a contract for the sale of a business or specific business assets. An asset purchase agreement is a type of contract that pertains specifically to the sale of a business or particular business assets.The first step in buying a business is identifying the type of business that aligns with your interests, skills, and financial goals. This job aid explains the process of how to register, issue, transfer, identify purchase information and dispose an asset. An important consideration when buying a business, whether via a stock purchase agreement or an asset purchase agreement, is whether the seller Whether you are purchasing or selling business assets or property, Michelle Cohen Levy has experience streamlining this complex process. PUR 04 - VENDOR REGISTRATION. Buyer shall purchase all outstanding Accounts Receivable of the Business constituting Purchased Assets.