Lexical ambiguity is the presence of two or more possible meanings for a single word. It's also called semantic ambiguity or homonymy. It differs from syntactic ambiguity, which is the presence of two or more possible meanings within a sentence or sequence of words.
"You know, somebody actually complimented me on my driving today. They left a little note on the windscreen; it said, 'Parking Fine.' So that was nice."(English comedian Tim Vine)
