What exactly is the Nullify delete rule doing?

Question

Does that mean that if I delete an managed object which has references (relationship) to some others, the relationships are removed to those others?

Example: objectA references objectB and objectC. objectA gets deleted, it's relationship to objectB and objectC is set to the Nullify rule. What happens in detail?

Answer 1

Let's talk traditional bicycles and owners instead of generic A, B, C.

Bicycles (id, type, owner_id...) = (17, "Fast One", 31...)
Owners (id, name...) = (31, "Joe Biker"...)

if owner_id is a foreign key into owners set to nullable, and you delete "Joe Biker" from the owners, "Fast One"'s owner_id changes from 31 to NULL.