The author of this paper aims to offer a critical review of both I.A. Richard’s Tenor-Vehicle Model of metaphor and of the subsequent adaptations of it. The paper thus presents the fundamental themes inside Richard’s theoretical framework, mainly concerning the creation of meaning, and concludes that he was the first one not to treat metaphor as a matter of words/language, but rather as a matter – or an “intercourse”– of thoughts, a transaction between contexts. The paper ends up investigating the problematic areas of the model and addresses some options for their resolution.