Palm used as a noun is any of a family (Palmae syn. Arecaceae) of mostly tropical or subtropical monocotyledonous trees, shrubs, or vines with usually a simple stem and a terminal crown of large pinnate or fan-shaped leaves
Palm the second use as a noun is the somewhat concave part of the human hand between the bases of the fingers and the wrist or the corresponding part of the forefoot of a lower mammaln
Palm used as a verb as in the act of palming, the hiding of an object in the hand while performing an illusionary act.