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A stock purchase agreement (SPA) is a contract between a seller and a buyer for the ownership of company shares. Key components of the SPA include the number of shares for sale, their cost, and the transaction date. Private companies must provide a due diligence period for potential buyers, while buyers of public stocks are protected by the Securities Act of 1933. The agreement should also address different classes of stock, which may have varying voting rights, such as Class A with three votes per share, Class B with two votes, and Class C with one vote. A comprehensive stock purchase agreement must detail these elements clearly.