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the purchase back of something that had been lost, by the payment of a ransom
The Greek word translated as “redemption” is apolutrosis, a word occurring nine times in Scripture, and always with the idea of a ransom or price paid, i.e., redemption by a lutron (see Matt. 20:28; Mark 10:45).
There are instances in the Septuagint Version of the Old Testament of the use of lutron in man's relation to man (Lev. 19:20; 25:51; Exodus 21:30; Num. 35:31, 32; Isa. 45:13; Prov. 6:35), and in the same sense of man's relation to God (Num. 3:49; 18:15).
There are many passages in the New Testament which represent Christ's sufferings under the idea of a ransom or price, and the result thereby secured is a purchase or redemption (compare Acts 20:28; 1 Cor. 6:19, 20; Gal. 3:13; 4:4, 5; Eph. 1:7; Col. 1:14; 1 Tim. 2:5, 6; Titus 2:14; Hebrews 9:12; 1 Pet. 1:18, 19; Rev. 5:9).
The idea running through all these texts, however various their reference, is that of payment made for our redemption. The debt against us is not viewed as simply cancelled, but is fully paid. Christ's blood or life, which he surrendered for them, is the “ransom” by which the deliverance of his people from the servitude of sin and from its penal consequences is secured.
It is the plain doctrine of Scripture that…