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one-way two-way ... please explain

I am fairly new to being a hockey fan on this level. I have lots to learn yet.

Please explain to me in simple terms what this one-way -- two-way deals you guys keep talking about are. Whats the difference between those two. Aren't all contracts the same? (X amount of $ for X amount of years)

thanks

 

 

p.s. OK another question. I can not post this with less the 75 words. So does that mean this is a wrong place to ask such a question ? where would be a better place to do so?

                                                                                                                                                                                                               

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