The unix read permission is actually the same as the execute permission, so if e.g. one process has write access it's also able to execute the same file.
This can be done pretty easily:First this process has to load the content of the file,which shall be executed, into a buffer. Afterwards it calls a function from a shared library which parses the ELF in the buffer and loads it to the right addresses(probably by overwriting the old process as usual, when calling execvp). The code jumps to the entry point of the new program and it's being executed.
I am pretty sure Dennis Ritchie and Ken Thompson were aware of that issue. So why did they even invent this permission, what is the intention behind it and what's the sense of it, if it can't prevent any process of any user having read access from executing? Is there even such a sense or is it superfluous?
Could this even be a serious security issue, are there any systems, which rely on the strength of rw- or r-- permissions?