Redemption
Redemption, "to deliver by paying a price." The New Testament doctrine. The New Testament records the fulfilment of the Old Testament types and prophecies of redemption through the sacrifice of Christ. The completed truth is set forth in the three words which are translated redemption
(1) Greek, "agorazo", "to purchase in the market." The underlying thought is of a slave-market. The subjects of redemption are "sold under sin" (Romans 7:14) but are, moreover, under sentence of death; (Ezekiel 18:4); (John 3:18); (John 3:19); (Romans 3:19); (Galatians 3:10); and the purchase price is the blood of the Redeemer who dies in their stead; (Galatians 3:13); (2 Corinthians 5:21); (Matthew 20:28); (Mark 10:45); (1 Timothy 2:6); (1 Peter 1:18).
(2) Greek, "exagorazo", "to buy out of the market." The redeemed are never again to be exposed to sale;
(3) Greek, "lutroo", "to loose," "to set free by paying a price" (John 8:32); (Galatians 4:4); (Galatians 4:5); (Galatians 4:31); (Galatians 5:13); (Romans 8:21). Redemption is by sacrifice and by power
( See Scofield) - (Exodus 14:30).
Christ paid the price, the Holy Spirit makes deliverance actual in experience (Romans 8:2).
( See Scofield) - (Isaiah 59:20).
( See Scofield) - (Romans 1:16).
grace
Grace (in salvation), (Romans 4:4-16); (Romans 3:24).
( See Scofield) - (John 1:17).