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An affidavit of execution consists of three key components: the preamble, the body, and the jurat. The preamble is the top part, while the body is typically single-spaced with double spacing between numbered paragraphs. The most critical section is the jurat, where the deponent signs and which is commissioned by a commissioner for oaths. For better formatting of the jurat, the video tutorial recommends using the table feature. This type of affidavit is widely utilized for various applications, mainly when a signature requires commissioning, highlighting its commonality and importance in legal documentation.