loophole

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Definitions from WordNet

Noun loophole has 2 senses

loophole - an ambiguity (especially one in the text of a law or contract) that makes it possible to evade a difficulty or obligation
--₁ is a kind of ambiguity
loophole - a small hole in a fortified wall; for observation or discharging weapons
--₂ is a kind of hole

Definitions from the Web

Loophole

A loophole is an ambiguity or omission in a system, law, or contract that allows someone to gain an unfair advantage or avoid a consequence.

Examples:

Noun - Legal Sense: Some tax accountants exploit loopholes in the tax code to minimize their clients' tax liabilities.
Noun - Contract Sense: The clever lawyer found a loophole in the contract that allowed his client to back out without penalty.
Noun - System Sense: The security system had a major loophole that allowed unauthorized access to sensitive information.
Verb: The company exploited a legal loophole to bypass regulatory restrictions.

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