Standard form contracts have long been under a cloud and have troubled contract theory because they may arise even though there may have been no ’meeting of minds’ between the parties. Even so, merchants have found them very useful, probably for as long as there have been merchants. In Schroeder Music Publishing Co Ltd v Macaulay [1974] 1 WLR 1308 Lord Diplock noted the ’ancient’ history of standard form contracts and approved those between merchants facilitating terms of trade, but criticised the growth of one-sided contracts between parties of unequal bargaining power.