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This form is an Asset Purchase Agreement. The seller agrees to sell to the buyer certain assets which are listed in the agreement. The form also provides that the buyer will not be responsible for any unfilled orders from the customers of the seller.
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Asset purchases occur between a seller and buyer of a company's assets, including facilities, vehicles, equipment, stock, and inventory. He has financed it using lease purchase where he has a final optional payment of £75 to buy it outright.
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