Ransom

Concise Bible Dictionary:

In the Old Testament, except in Exodus 21:30³⁰If there be laid on him a sum of money, then he shall give for the ransom of his life whatsoever is laid upon him. (Exodus 21:30), the word is kopher, literally “a covering,” a cognate word to kaphar, often translated “atonement.” None “can by any means redeem his brother, nor give to God a ransom for him” (Psa. 49:7⁷None of them can by any means redeem his brother, nor give to God a ransom for him: (Psalm 49:7)). But God could say, “Deliver him from going down to the pit: I have found a ransom” (Job 33:24²⁴Then he is gracious unto him, and saith, Deliver him from going down to the pit: I have found a ransom. (Job 33:24)). The word occurs also in Exodus 30:12¹²When thou takest the sum of the children of Israel after their number, then shall they give every man a ransom for his soul unto the Lord, when thou numberest them; that there be no plague among them, when thou numberest them. (Exodus 30:12); Job 36:18¹⁸Because there is wrath, beware lest he take thee away with his stroke: then a great ransom cannot deliver thee. (Job 36:18); Proverbs 6:35³⁵He will not regard any ransom; neither will he rest content, though thou givest many gifts. (Proverbs 6:35); Proverbs 13:8⁸The ransom of a man's life are his riches: but the poor heareth not rebuke. (Proverbs 13:8); Proverbs 21:18¹⁸The wicked shall be a ransom for the righteous, and the transgressor for the upright. (Proverbs 21:18) and Isaiah 43:3³For I am the Lord thy God, the Holy One of Israel, thy Saviour: I gave Egypt for thy ransom, Ethiopia and Seba for thee. (Isaiah 43:3). In the New Testament it is λύντρον, or ἀντίλυιρου, from “to loose, set free.” Christ gave Himself, His life, a ransom for many: the precious blood of Christ witnesses that every claim of God against the believer has been answered (Matt. 20:28²⁸Even as the Son of man came not to be ministered unto, but to minister, and to give his life a ransom for many. (Matthew 20:28); Mark 10:45⁴⁵For even the Son of man came not to be ministered unto, but to minister, and to give his life a ransom for many. (Mark 10:45); 1 Tim. 2:6⁶Who gave himself a ransom for all, to be testified in due time. (1 Timothy 2:6)).

From Anstey’s Doctrinal Definitions:

This is a term that signifies the price that was paid to redeem something or someone (Job 33:24²⁴Then he is gracious unto him, and saith, Deliver him from going down to the pit: I have found a ransom. (Job 33:24); Psa. 49:7⁷None of them can by any means redeem his brother, nor give to God a ransom for him: (Psalm 49:7); Prov. 6:35³⁵He will not regard any ransom; neither will he rest content, though thou givest many gifts. (Proverbs 6:35); Matt. 20:28²⁸Even as the Son of man came not to be ministered unto, but to minister, and to give his life a ransom for many. (Matthew 20:28); 1 Tim. 2:6⁶Who gave himself a ransom for all, to be testified in due time. (1 Timothy 2:6)). Christ’s finished work on the cross is what paid the price of our redemption.