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An affidavit of execution consists of three main components: the preamble, the body, and the jurat. The preamble is at the top, followed by the body, which is single-spaced with double spacing between numbered paragraphs. The jurat, located at the bottom, is crucial as it features the deponent's signature and is commissioned by a commissioner for oaths. The jurat can be formatted using a table, as explained in the accompanying video tutorial. This type of affidavit is commonly used whenever a document requires a signature that must be commissioned, serving various applications in legal contexts.