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.THIS ASSET PURCHASE AGREEMENT (this "Agreement"), dated as of September. This guide will break down the ins and outs of asset purchase agreements for multiple owners, making this complex legal topic more digestible and actionable. The details of the purchase and transfer of Assets to the Buyer are reflected in the Bills of Sale. Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller. Key Elements of the Closing Process. Final Purchase Agreement: The legally binding document that outlines the terms and conditions of the sale. An asset purchase agreement, or asset sale agreement, should contain details about the business, buyer, seller, and assets acquired through the transaction. An APA is used to purchase the assets of a business.