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A Stock Purchase Agreement (SPA) is a contract between a seller of company shares and a potential buyer for acquiring ownership of a business. Key elements include the number of shares for sale, cost per share, and transaction date. Private entities must provide a due diligence period for buyers, while buyers of public stock are protected under the Securities Act of 1933. Additionally, there are various classes of stock that typically offer different voting rights; for instance, Class A shares may provide three votes each, Class B offers two votes, and Class C provides one vote. A stock purchase agreement should detail these elements and any other pertinent information.