Wondering about everything that the escrow process entails? Read on to learn more about the requirements for escrow.Seller desires to sell and Buyer desires to purchase certain assets of Seller used in the Business in accordance with the terms and conditions contained herein. A Purchase and Sale Agreement for a Business sets out the final transaction between a buyer and a seller of a business. It is generally fairly detailed. An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. Asset Purchase Agreements (APAs) are essential documents for asset sales, but they're far more complex than a simple transaction.