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LSDefine

Simple English definitions for legal terms

shifting risk

Read a random definition: amortized mortgage

A quick definition of shifting risk:

Shifting risk means changing who is responsible for something bad that might happen. For example, if you buy insurance for your car, you are shifting the risk of an accident from yourself to the insurance company. This means that if you get into an accident, the insurance company will pay for the damage instead of you. Shifting risk is a way to protect yourself from bad things that might happen.

A more thorough explanation:

Definition: Shifting risk refers to the transfer of potential loss or harm from one party to another through insurance or other means.

For example, a business may purchase insurance to shift the risk of property damage or liability to the insurance company. In this case, the business pays a premium to the insurance company in exchange for the company assuming the risk of potential losses.

Another example of shifting risk is when a homeowner hires a contractor to perform renovations on their property. The homeowner may require the contractor to carry liability insurance to shift the risk of any damages or injuries that may occur during the renovation process from the homeowner to the contractor.

Shifting risk is a common practice in many industries and can help protect individuals and businesses from potential financial losses.

shifting inheritance | shifting stock of merchandise

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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