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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 typically single-spaced with double spacing between paragraphs, and the paragraphs are numbered. The most crucial part is the jurat, where the deponent signs and their signature is commissioned by a commissioner for oaths. Formatting the jurat is simplified by using a table feature, as indicated in the video tutorial. This affidavit is widely used, particularly when a signature needs to be commissioned for document execution.