It means that the 240 volts is connected directly to the device rather than being connected through an outlet. In some cases an electric box may be wired between the power supply and device and could contain fuses, breakers or a disconnect of some type. For example if you have an outside air conditioner there should be a disconnect box on a wall near the unit. The unit would still be considered to be hard-wired.
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In residential wiring, if it is used as a switch leg or in 3 wire 240 volt circuits.
240
In residential wiring the white wire is neutral on the 120 volt circuits. On a 3way circuit the red is the traveler and the white is neutral. On a 240 volt 3 wire connection the white & black are hot. On a 240 volt 4 wire connection the black and red are hot and the white is neutral.
No, a 240 volt device runs on 240, and a 120 volt device runs on 120. Attempting to run a device on incompatible voltage results in damage.
The 240 volt receptacle has to have an amperage rating. It is this rating that governs the wire size and breaker size to feed the circuit. The new two pole breaker will be inserted in the 100 amp distribution if space is available and connected to the new wiring that terminates at the new receptacle.