This is the point at which the neck is either bolted or glued to the body of the guitar. Almost all acoustic guitars, with the primary exception of Taylors, have glued (otherwise known as set) necks, while electric guitars are constructed using both types.
Commonly used set neck joints include mortise and tenon joints (such as those used by CF Martin & Co. guitars), dovetail joints (also used by CF Martin on the D28 and similar models) and Spanish heel neck joints which are named after the shoe they resemble and commonly found in classical guitars. All three types offer stability. Bolt-on necks, though they are historically associated with cheaper instruments, do offer greater flexibility in the guitar's set-up, and allow easier access for neck joint maintenance and repairs.
Another type of neck, only available for solid body electric guitars, is the neck-through-body construction. These are designed so that everything from the machine heads down to the bridge are located on the same piece of wood. The sides (also known as wings) of the guitar are then glued to this central piece. Some luthiers prefer this method of construction as they claim it allows better sustain of each note. Some instruments may not have a neck joint at all, having the neck and sides built as one piece and the body built around it.