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.Fill out the contact form or call us at 9545642246 or 3055704042 to schedule your consultation. PUR 04 - VENDOR REGISTRATION. Learn key legal tips for buying property in Broward County. An asset purchase agreement is an agreement between buyer and seller that formalizes the purchase of a business or business asset. A court proceeding is not required to purchase distressed assets.