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These documents are similar and are often used interchangeably. While they vary a bit from each other, they are used for the same purpose which is to show intent and an agreement to agree. Most are considered "nonbinding" unless the wording is included to make it binding.

Purchase of a Business » used between the Seller of business and a potential Buyer of a business. Eventually, you would use a Business Purchase Agreement to complete the deal. Purchase of Real Estate » used between the Seller of real property and a potential Buyer of the real property. You would use a Real Estate Purchase Agreement to complete the deal. Purchase of General Property » used between the Seller of personal property, such as a car or jewelry, and a potential Buyer of the personal property. You would use a Personal Property Purchase Agreement to complete the deal. Other Transaction » used between parties to document a potential transaction, such as providing goods or services over a given period of time.

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