To purchase back; to regain possession of by payment of
a stipulated price; to repurchase.

To recall, as an estate, or to regain, as mortgaged
property, by paying what may be due by force of the mortgage.

To regain by performing the obligation or condition
stated; to discharge the obligation mentioned in, as a promissory note,
bond, or other evidence of debt; as, to redeem bank notes with coin.

To ransom, liberate, or rescue from captivity or
bondage, or from any obligation or liability to suffer or to be
forfeited, by paying a price or ransom; to ransom; to rescue; to
recover; as, to redeem a captive, a pledge, and the like.

Hence, to rescue and deliver from the bondage of sin and
the penalties of God’s violated law.

To pay the penalty of; to make amends for; to serve as
an equivalent or offset for; to atone for; to compensate; as, to redeem
an error.