Section 1.1. Definitions. 1. THIS ASSET PURCHASE AGREEMENT is made and entered into as of January 13,.An APA is a legallybinding contract between a buyer and seller that finalizes the terms and conditions of an acquisition. 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. With respect to the Material Agreements: (i) all are in all material respects in full force and effect;. A stock and asset purchase agreement is a contract between the buyer and seller of a business that outlines the terms, conditions, and details.