A short form agreement for the purchase and sale of certain tangible and intangible property of a Canadian private corporation or limited partnership. This Standard Document has integrated notes with important explanations and drafting and negotiating tips.Get full access to this document with Practical Law. An Asset Purchase Agreement is used for the purchase and sale of part of a business. This Toolkit contains continuously maintained standard documents, transaction guides and checklists to help counsel manage the transaction. This Practical Law Company Microsoft Word template is for a standard bill of sale to accompany an asset purchase agreement. It includes drafting notes. Page. ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION. 1. 1.1. Definitions. 1. 1.2. Rules of Construction. 1.