Your corporation may then move forward with the transaction. Petition to the court.This document allows a buyer and seller to stipulate an asset to be sold at a specific date in the future. The Owner is able to bear the economic risk of an investment in the common stock and, at the present time, is able to afford a complete loss of such investment. The application form describes your claim to the. Court. An asset purchase agreement is a legal document used when buying or selling a small business. Read on to understand the basics. The Asset Purchase Agreement Checklist outlines important considerations for buying or selling a business, including assets, liabilities, and contracts. In a forward purchase transaction, a buyer and seller enter into a purchase and sale agreement at a set or calculated price for an asset that is either in. Thinking about selling a business, but are unsure what your options are?