Emulsification of lauric acid in an aqueous ethanol solution including lauric acid solute has been observed during cooling before crystallization of lauric acid occurs, The nature of two different solubility curves was explained for the system of lauric acid and aqueous ethanol solution. The mutual solubility of the two liquid phases controls emulsification; the solid solubility of lauric acid controls crystallization. The mutual solubility curve appears at relatively high temperature, and the solid solubility curve at relatively low temperature. Crystallization essentially generates a solid metastable zone under the solid solubility curve, A supersaturated solution can be obtained in the metastable zone. However, no nucleation occurs in the metastable zone. The metastable zone, therefore, still caused emulsification at low temperature before crystallization of lauric acid occurred. The hypothetical mutual solubility curve for the aqueous solution including hydrophobic solutes appeared invariably even at low temperature in the metastable zone under the solid solubility,