Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Shifting
adj. (Of a position, place, etc.) changing or passing from one to another <a shifting estate > .
income-shifting
The practice of transferring income to a taxpayer in a lower tax bracket,
shifting clause
At common law, a clause under the Statute of Uses prescribing a substituted mode of devolution in the settlement of an estate. See STATUTE OF USES.
shifting income
A device used by a taxpayer in a high tax bracket to shelter income by moving the income to another (usu. a spouse or child) in a lower tax bracket, and esp. by forming a Clifford trust. See Clifford trust under TRUST.
shifting risk
Insurance. The changing risk covered under an insurance policy insuring a stock of goods or similar property that varies in amount and composition in the course of trade.
shifting stock of merchandise
Merchandise inventory subject to change by purchases and sales in the course of trade.
shifting the burden of proof
In litigation, the transference of the duty to prove a fact from one party to the other; the passing of the duty to produce evidence in a case from one side to another as the case progresses, when one side has made a prima facie showing on a point of evidence, requiring the other side to rebut it by contradictory evidence. See BURDEN OF PROOF.
shifting trust
An express trust providing that, upon a specified contingency, it may operate in favor of an additional or substituted beneficiary.
shifting use
A use arising from the occurrence of a certain event that terminates the preceding use. ( In the following example, C has a shifting use that arises when D makes the specified payment: "to A for the use-of B, but then to C when D pays $1,000 to E." This is a type of conditional limitation. - Also termed secondary use. See conditional limitation under LIMITATION. sole use. See entire use.