Organic compounds are often categorized according to their volatility, polarity, and hydrophobicity. These terms are then used to estimate the equilibrium partitioning of compounds between different phases (e.g., air, water, organic solvents). However, these terms are rather ill-defined, and their application can easily lead to erroneous ideas about the partition behavior of compounds as is demonstrated with several examples. A simple cavity model of bulk phase partitioning in combination with some basic information about the relevant intermolecular interactions (i.e., van der Waals and H-bond interactions) allows the reader to understand the pitfalls of these widespread misconceptions. This model is further used to derive a number of rules that are better suited for a qualitative estimation of the partition behavior of organic compounds between various bulk phases.