The Lisp compiler will need to figure it out and complain about various problems: undefined function/variable/tag/..., argument list mismatch, type mismatch, etc.
The compiler will expand the macros at compile time and the generated source code then is checked.
One thing this macro system enables are macros which can implement relatively arbitrary syntactical extensions, not restricted by a particular syntax. That can be seen as useful&flexibility or as potential problem (-> needs knowledge and discipline while implementing macros, with the goal of ensuring the maintainability of the code).
The compiler will expand the macros at compile time and the generated source code then is checked.
One thing this macro system enables are macros which can implement relatively arbitrary syntactical extensions, not restricted by a particular syntax. That can be seen as useful&flexibility or as potential problem (-> needs knowledge and discipline while implementing macros, with the goal of ensuring the maintainability of the code).