Esters

Esters describe a group of organic compounds formed when a reaction takes place involving an alcohol and an acid. Ethanol is an alcohol and acetic acid an acid and when they react the products are the ester ethyl acetate and water. Esterification is a term describing the reaction. Esters in turn react with water and yield an alcohol and an acid.1

There are compounds containing phosphorus some of which are esters. They are important in biochemistry. Go here for a site with related details.2

Reference:

1. The Columbia Encyclopedia; The online version; Columbia University Press

2. Nomenclature of Phosphorus-Containing Compounds of Biochemical Importance