If it is Bluetooth Low Energy, then the external device that is providing sensor data or actuator capability is the server, and the phone that is receiving data or issuing actuator commands is the client.
I would expect it is mostly the same for normal Bluetooth.
But usually the phone can be made to act as a server too, eg to emulate a Bluetooth GPS dongle or printer.
I don't know what the situation is when multiple phones are communicating with each other eg the demo chat app. I would expect that the first, initiating phone would be the master by default, and the other phone participants be slaves, but you'd have to look at the code to confirm that.