Redemption is the act of ransom. In our case it means a ransoming by God of all believers from the slavery of sin and its coming judgment, by the precious blood of Christ. In the Old Testament this was effected by the blood of the lamb (Ex. 12, 13.), or with money (Num. 3:49, 50). The effect of redemption is the exact counterpart of purchase, though both are effected by the work of Christ; the former makes me Christ’s freedman, while the latter buys me to serve God as Christ’s bondman.