The Asset Purchase Agreement short form practical law in Palm Beach is a streamlined contract designed for the sale of business assets between a Seller and a Buyer. This agreement outlines essential components such as the assets being sold, liabilities assumed by the Buyer, and the purchase price. Key features include provisions for the assumption of liabilities, definitions of excluded assets, and detailed payment structures. The form requires modification to fit specific facts and allows for the deletion of non-applicable sections. It is particularly useful for legal professionals, including attorneys, partners, owners, associates, paralegals, and legal assistants, as it simplifies the transaction process and ensures legal protection for both parties involved. Users can follow filling and editing instructions to customize the agreement, making it applicable for various business scenarios, including the acquisition of equipment, contracts, and goodwill.