Version 13 2 PURCHASE AND ASSUMPTION AGREEMENT. Santa Clara, California.Your name is your brand so it must reflect all the aspects of your business plan. An asset sale is a common method for transferring business ownership. Most SCU forms here are fillable; please download the form and open it using your preferred PDF viewer to fill out the form electronically. Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller.