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Alex offers to subscribe for 100 shares of Batamate Limited, which is issuing further stock.He makes his offer in June, but he does not receive

Alex offers to subscribe for 100 shares of Batamate Limited, which is issuing further stock.He makes his offer in June, but he does not receive a letter of allotment (acceptance) from Batamate until November.

What is the main legal issue? Must Alex pay for the shares?Explain.

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