Mutual NonDisclosure Agreement (NDA). Letter of Intent (LOI).Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. The purchase price can include cash, promissory notes, assumptions of liabilities, dividends of cash or assets out of a company before a sale, deferred. Both the buyer and seller must complete IRS Form 8594 during the sale to report the sale and purchase of business assets. A Sale of Business Assets Agreement is a contract that covers the sale and purchase of tangible and intangible assets of a business. 1.1 Purchase and Sale of Assets. 2.