Hoping to get some advice on the following. My home was built in 1976, the originally unfinished basement was finished at some unknown point, guessing prior to 1991. I moved in 4 years ago. Replacing a light fixture in the basement restroom, I have opened up a can of worms, found cable labeled "Type SJ 300 volts". Looks like this is basically heavy duty extension cord, not approved for in-wall use. It's also non-grounded (two-wire). I began pulling down some drywall to fix, but looks like other light fixtures in the basement are also wired with this, and replacing will be an extensive job.
Does anyone have any insight or thoughts on how dangerous this may or may not be? Would type SJ cable ever have been approved by code for in wall use (guessing no, and this was just poorly done). If I confirm the junctions are good, and this is only supplying light fixtures, should I just leave it alone (leave it as it has been for 20 or more years), or is this a potential ticking time bomb?
Does anyone have any insight or thoughts on how dangerous this may or may not be? Would type SJ cable ever have been approved by code for in wall use (guessing no, and this was just poorly done). If I confirm the junctions are good, and this is only supplying light fixtures, should I just leave it alone (leave it as it has been for 20 or more years), or is this a potential ticking time bomb?