(pronounced pee-fat) Peace For All Time. The name of a treaty among the world's leaders in the comedy film Mafia that was initiated by President Diane to bring world peace. In the film several known dictators are shown celebrating the treaty such as Saddam Hussein and Fidel Castro as well as Pope John Paul II.
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.