Leeway
Part of speech: noun
Definition: The drift of a ship or airplane in a leeward direction. A varying degree or amount of freedom or flexibility; margin, latitude, elbowroom An adverse discrepancy or variation in a cumulative process, usually in make up leeway.
Example sentence: Genius is always allowed some leeway, once the hammer has been pried from its hands and the blood has been cleaned up.
Allowance
Part of speech: noun
Definition: The act of allowing, granting, conceding, or admitting; authorization; permission; sanction; tolerance.Acknowledgment.That which is allowed; a share or portion allotted or granted; a sum granted as a reimbursement, a bounty, or as appropriate for any purpose; a stated quantity, as of food or drink; hence, a limited quantity of meat and drink, when provisions fall short.Abatement; deduction; the taking into account of mitigating circumstances; as, to make allowance for the inexperience of youth.A customary deduction from the gross weight of goods, different in different countries, such as tare and tret.A child's allowance; pocket money.
Example sentence: I am in favour of a fully transferable allowance.