This document summarizes the universal property of fold, which states that for finite lists the fold function is the unique function that satisfies its defining recursive equations. It provides examples of how common list functions like sum, product, length, concatenation (⧺) can be defined in terms of fold. It also notes that the universal property can be generalized to handle partial and infinite lists. Finally, it states that map, filter and fold form the "triad" or basic building blocks of functional programming.