Liar-like paradoxes are typically arguments that, by using very intuitive resources of natural language, end up in contradiction. Consistent solutions to those paradoxes usually have difficulties either because they restrict the expressive power of the language, or else because they fall prey to extended versions of the paradox. Dialetheists, like Graham Priest, propose that we should take the Liar at face value and accept the contradictory conclusion as true. A logical treatment of such contradictions is also put forward, with the Logic of Paradox (LP), which should account for the manifestations of the Liar. In this paper we shall argue that such a formal approach, as advanced by Priest, is unsatisfactory. In order to make contradictions acceptable, Priest has to distinguish between two kinds of contradictions, internal and external, corresponding, respectively, to the conclusions of the simple and of the extended Liar. Given that, we argue that while the natural interpretation of LP was intended to account for true and false sentences, dealing with internal contradictions, it lacks the resources to tame external contradictions. Also, the negation sign of LP is unable to represent internal contradictions adequately, precisely because of its allowance of sentences that may be true and false. As a result, the formal account suffers from severe limitations, which make it unable to represent the contradiction obtained in the conclusion of each of the paradoxes