Ransom: The price or payment made for our redemption, as when it is said that
the Son of man "gave his life a ransom for many"
(Matthew 20:28) comp.
(Acts 20:28; Romans 3:23,24; 1 Corinthians 6:19,20; Galatians 3:13; 4:4,5; Ephesians 1:7; Colossians 1:14)
(1 Timothy 2:6; Ti 2:14; 1 Peter 1:18,19) In all these passages the same idea
is expressed). This word is derived from the Fr. rancon; Lat.
redemptio. The debt is represented not as cancelled but as fully
paid. The slave or captive is not liberated by a mere gratuitous
favour, but a ransom price has been paid, in consideration of which he
is set free. The original owner receives back his alienated and lost
possession because he has bought it back "with a price." This price or
ransom (Gr. lutron) is always said to be Christ, his blood, his
death. He secures our redemption by the payment of a ransom.