1. Definition: to bring back into rightful ownership (restoration to one who possesses a more fundamental right or interest) by the paying of a price, or ransom buying back a slave or a captive, making him free by the payment of a ransom deliverance from bondage (any difficult situation) as a result of the paying of a ransom the Greek word is an intensified form that emphasizes the separation from the former state -- the finality of our redemption -- never again to be brought into bondage

2. Jewish background

same word in LXX connected with the Year of the Jubilee -- Lev. 25:10

3. Viewed as a present possession for us the saints

4. Accomplished through His blood -- the means of redemption and the ransom price

5. Main result = the forgiveness of our trespasses

Conclusion: we now have the liberty to serve Christ

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