The Asset Sale Agreement finalizes the terms and conditions of a sale and purchase of company's assets. The contract states the names of the seller and buyer, as well as saying they both have the rights and power of ownership to be involved in the transaction. Assets in query could be tangible, such as furniture, supplies, or real estate, as well as intangible, such as accounts payable or a customer database. The Sale of Assets Agreement goes into detail about purchase conditions, price, etc. Both the seller and buyer must agree to all terms in a Sale of Assets Agreement.