You are partially correct c-man. But ultimately the breaker can't be oversized for the conductor wire coming out of the breaker panel going to the receptacle. For example, if you put a 50 amp breaker on #14 wire, the amperage draw could heat the wire hot enough to cause a fire where the wire is close to a combustible such as wood studs in the wall. Usually the excess heat causes the plastic in receptacles and light sockets to melt, short out, and start a fire. Theoretically breakers are designed to detect heat as well as amperage to cause it to trip. Too small wire could cause it to trip all the time or the heat will first generate at a weak spot such as a receptacle or maybe a pinched spot in the wire or where a nail got to it and a fire could result before the breaker picks up the heat.
You might check the conductor size of the dryers and ovens you have hooked up for piece of mind. Technically the safety factors built into wire runs and such along with intermittant use and low heat settings may protect you for a while. Stick a brisket in the oven in the oven for 12 hours and go off and leave it may result in something you didn't want.
I found that the plastic in old electrical stuff like receptacles breaks down over time (just like in cars and pipe) and should be replaced. I run some high wattage bulbs in a couple lamps and every few years the heat causes those sockets to short and fail. (no fires yet) I've looked at ceiling fixtures and found baked wiring just from using 100 watt bulbs when they are rated at 60 watts max. Same for the 100 watt rated ones. Just stuff to stay on top of.
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Today's Featured Article - Identifying Tractor Noises - by Curtis Von Fange. Listening To Your Tractor : Part 3 - In this series we are continuing to learn the fine art of listening to our tractor in hopes of keeping it running longer. One particularly important facet is to hear and identify the particular noises that our
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