2.01 Purchase Price. An asset purchase agreement (APA) is a legal contract in which a seller spells out to a buyer exactly what assets are being sold.An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. The purchase agreement must be carefully drafted and customized for these economic details. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. TABLE OF CONTENTS. Page.