I drafted it with very small businesses in mind. It's structured as a bill of sale and assumption agreement to make it easy for do-it-yourselfers to use.An APA is a legallybinding contract between a buyer and seller that finalizes the terms and conditions of an acquisition. An asset purchase agreement documents the terms of the sale of business assets from a seller to a buyer. Asset Purchase and Sale Agreement dated as of December 28, 2018 between. Below are the key terms that are typically included in an asset purchase agreement. Recitals. Buyer and seller name with addresses with the date of signing.