Eariler this summer I had an air conditioner installed. I happened to look in the subpanel today. The AC is on a double breaker totalling 60 amps. Both the Black and White wire go to the breaker and the bare ground wire goes to the neutral busbar. Obviously, the white wire is being used as the second hot. This is regular romex cable. The gauge is okay, but there's no conduit to use as ground and no fourth wire. Is this acceptable? Shouldn't there be 4 wires? Black and red going to power, while white (neutral) goes to its busbar and bare wire ground going to the ground busbar?
I also have another breaker dedicated solely to a space heater (hard wired). This circuit is wired the same as the AC with only 3 wires. Was this an old way of doing it before ground wires were used or do some appliances just not need ground?