I was under the impression that 2 pole circuits that feed 240 volts are always wired with 12/3 wire (2 hots, one neutral and one ground). With this wire, the two hots attach to the two lugs on the dual pole breaker and the neutral and ground go to their respective buses.
However, I am finding instances where a circuit is 240V but driven using 12/2 Romex, with the black and white wire attached to the two lugs. My reading suggests that this is code compliant.
But I am confused as to how the current is returning to the neutral bus? If a neutral is not required, why would anyone ever use a */3 wire? ..