If you're planning a buyout, getting a buyout agreement in place is essential. But how do they work exactly?An Asset Purchase Agreement is an agreement between a buyer and a seller of a business as to the terms and conditions of the sale of the business. A Sales and Purchase Agreement (SPA) is a legal contract between the buyer and seller of a property. This agreement is legally binding. In this ultimate guide, we will unravel the mysterious world of buyout agreements and show you stepbystep how to navigate them like a pro. 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.