This chapter explores continuing areas of controversy in contract interpretation, such as the role of context, standards of commercial reasonableness and their relevance to interpretation, objectivity and subjectivity in interpretation, and the status of the current exclusions from the contract context. The early cautions, in the wake of Investors, against abandoning a plain meaning approach have been vindicated to an extent by the recent statement of the principles of contract interpretation from the Supreme Court in Arnold v Britton. Ambiguity that arises because of the context or the result of the contract is insufficient to justify consideration of alternative meanings. Commercial common sense is regarded with suspicion because it appears to allow a judge to undermine the effect of the written contract. Depending on one's idea of the judicial role in resolving the commercial dispute, this either affords judges a welcome degree of flexibility in the choice of interpretative point of view or gives rise to unacceptable inconsistency and division.