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Loophole

Loop

bolt

The curved shape made when something long and thin, such as a piece of string, bends until one part of it nearly touches or crosses another part of it.

Hole

hole

An empty space in something, usually with an opening to the object's surface, or an opening which goes completely through an object.

Loop + Hole

Loophole

A small mistake in an agreement or law which gives someone the chance to avoid having to do something.

Example Sentence:-

"With one loophole closed, the tax office found others."