Every small engine has a magneto,IF the coil uses NO battery to make the spark,and magnets in the flywheel are used instead..if an engine has a car type coil and a battery,then it does not have a magneto..some tractors do have batteries and electric start,but still use a magneto for the ignition ..
Those little "points eliminator" modules only do just that,eliminate the points,or by-pass them would be a better term,because the points usually must stay in the magneto so oil wont leak out of the little hole the plunger sits in that operates them..they are simply dissconnected and taken out of the circuit..you must have a GOOD original point type igniton coil for the module to work,and depending on how the coil is wound,you might need to reverse the connections on the module for it to work right..
If I had a tractor with points and a battery & electric start and it had a bad coil,I think I would convert it to use a car coil,powered off the battery instead,if the magneto coil was too costly, or hard to find..it would entail changing the wiring and possibly a different ignition switch ,since a magneto ignition needs a ground to sut off the spark,the car coil needs the circuit opened instead..you could use a toggle switch just to cut power to the car coil and retain the original key switch too..