(1) The magnetic properties of a substance arise due to the presence of electrons.
(2) An electron while revolving around the nucleus, also spins around its own axis and generates a magnetic moment and magnetic properties.
(3) If an atom or a molecule contains one or more unpaired electrons spinning in same direction, clockwise or anticlockwise, then the substance is associated with net magnetic moment and magnetic properties. They experience a net force of attraction when placed in the magnetic field.
This phenomenon is called paramagnetism and the substance is said to be paramagnetic.
For example, O2, Cu2+, Fe3+, Cr3+, NO, etc.