All required information about the parties involved in the agreement. An asset purchase agreement is an agreement between buyer and seller that formalizes the purchase of a business or business asset.An asset purchase agreement is a contract for the sale of a business or specific business assets. The most important document in an asset deal is the Asset Purchase Agreement (the "APA"). In this article, I will discuss the key provisions of an APA. The seller will provide the necessary documents, as well as the property and keys. The Essential Terms of an Asset Purchase Agreement in Florida. An allocation of the purchase price is an essential component to a business sale transaction. Both buyer and seller have to work together to get it done. Asset Purchase Agreements are reached when one business agrees to purchase the assets of another.