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Nature of the Lines

The discriminant of the quadratic in m (from ax² + 2hxy + by² = 0) is 4(h²−ab). The three cases correspond to positive, zero, and negative discriminant.
Derivation

The quadratic bm2+2hm+a=0bm^2+2hm+a=0 has discriminant Δ=(2h)24ab=4(h2ab)\Delta' = (2h)^2 - 4ab = 4(h^2-ab).

ConditionDiscriminantLines
h2>abh^2 > abΔ>0\Delta' > 0Two real and distinct lines
h2=abh^2 = abΔ=0\Delta' = 0Two coincident (real) lines
h2<abh^2 < abΔ<0\Delta' < 0Two imaginary lines (equation has no real locus except the origin)

Real and distinct lines: The equation represents two genuinely separate lines through the origin. This is the most common case in problems.

Coincident lines: ax2+2hxy+by2=(ax+by)2ax^2+2hxy+by^2 = (\sqrt{a}x+\sqrt{b}y)^2 when h=abh = \sqrt{ab}. Both "lines" are the same — the equation represents a double line.

Imaginary lines: The equation ax2+2hxy+by2=0ax^2+2hxy+by^2=0 has only the trivial solution (0,0)(0,0) in the reals. This occurs, for example, with x2+xy+y2=0x^2+xy+y^2=0 (discriminant =14<0= 1-4 < 0).

Note: The condition h2=abh^2 = ab for coincident lines here is the same as for parallel lines in the general equation — coincident lines are a special case of parallel lines (zero distance apart).