This Asset Purchase Agreement (the Agreement ) is made as of the 22nd day of February,. Buying or selling a business?Answer a few simple questions to create your own Business Purchase Agreement. An asset sale is a common method for transferring business ownership. "Business Day" means a day other than a Saturday, Sunday or a day on which banks are legally closed for business in the State of California. Use a California business purchase agreement to record the sale of a business. Download your free template today. An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. Asset Purchase Agreement, dated December from ITERIS, INC. Filed with the Securities and Exchange Commission.