Parked domains in WHM are domains where say whatever.com gets the files from the server for whatever.net
So say if the files for whatever.net was /home/whatever/public_html
then whatever.com would just get /home/whatever/public_html/
Same with mail, it whole concept is you can point your .com and .net to the one site.
Parked domains pull content from the same directory as another domain.
Pointed domains pull content from a subdirectory of a domain, but have their own access URL.
Depending on how the servers are configured, pointed domains and parked domains can both send and receive email.
Account foo.com has the path
and two subdirectories "bar" and "baz".
The account owner buys foo.net and foo.org, and parks them on top of foo.com - so that when someone types in foo.org, they see the same content as someone who types in foo.net or foo.com, which is the content in
The account owner then buys bar.com and baz.net, and points them at the subdirectories. So someone typing in bar.com sees the content in
and someone typing in baz.net sees the content in
At least, that's how it's defined for hosts using cPanel control panel software. When GoDaddy (for example) sells domain parking services, they put up a single-page "placeholder" site for the domain.