I already checked out this page; http://codex.wordpress.org/Function_Reference/wp_delete_term
It does not say what happens to the posts that may have been associated with this action. Hence my question;
So, what happens to them?
deleting terms programmatically
You can use below to assign all posts to another term during deletion mentioned on same page..
“The $args ‘force_default’ will force the term supplied as default to be assigned even if the object was not going to be termless.”
Other wise if there was only one term attached with post, post becomes term less.
It does not say what happens to the posts because Nothing happens to the posts, Only the term and the relation between the post to the term are deleted.