They intersect at a point
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Nothing HAPPENS! They can intersect in a point or a line.
No. The planes must either coincide (they are the same, and intersect everywhere), be parallel (never intersect), or intersect in exactly one line.
skew lines
Parallel
They are called skew lines. Explanation: In 3 space, parallel lines must never intersect AND must be in the same plane. If they fail to intersect and are in different planes we call them skew lines.