As we have already seen in this verse, Jesus came to give His life as a ransom for many, the word ransom implies bondage, and the ultimate source of bondage is one’s own sins; see again Joh 8:34, Rom 7:14, Tit 3:3.  To provide complete deliverance from every form of bondage, what ransom did Jesus say in this verse He would pay to redeem mankind from their bondage to sin?  Cf. Lev 17:11, Act 20:28, 1Pe 1:18-19, Rev 5:9.  What is it about the life-blood of Christ that makes it efficacious as the price for redemption?  Contrast Psa 49:7-9 and see Heb 9:11-14,22 10:1-4.  Most Christians understand Christ’s death on the cross as an atoning sacrifice that satisfied God’s justice and is the basis upon which He grants forgiveness of sins, which is true; see Isa 53:4-6, Mat 26:28, Joh 1:29, 2Co 5:19,21, Eph 1:7, Heb 9:22.  However, in light of what we have now come to understand about Christ’s deliverance, what is the much fuller implication of Christ’s redemption and our ransom from sin that is often neglected in today’s church?  See Joh 8:34-36, Gal 1:4.  Did God redeem the children of Israel from their bondage in Egypt so they could continue to serve their former taskmasters?  For what purpose did He redeem them?  See Ex 4:23, 7:16, 8:1,20, 9;1,13, 10:3.  Did God ransom us from the bondage of sin with the blood of His own dear Son so we could continue to serve sin as our master?  See Rom 6:15-18.  For what purpose did He redeem us?  See Luk 1:73-75.  If one continues to serve sin as his master, should he believe he is any more “saved” than were the Israelites while they remained in the land of Egypt in bondage to their taskmasters?  By what means is the life-blood of Christ appropriated by us individually in order to find deliverance from all the bondage of sin, and even the bondage of the law?  See Rom 6:1-7, 7:1-6, 1Pe 2:24.

In terms of a slave market, if one has truly been redeemed by Christ, to whom does he then belong?  See 1Co 6:19-20, Tit 2:13-14.  By what name did the early disciples refer to themselves that illustrates this truth?  See Luk 1:38, Act 4:29, Phil 1:1, Jam 1:1, 2Pe 1:1, Jud 1:1, Rev 1:1.  (Note: the KJV “servant” in these passages is better translated as “bond-servant” or “slave” as in the NASB.)  What characteristics describe a bondservant of the Lord?  See 2Co 4:5, Gal 1:10, 2Ti 2:24, 1Pe 2:16, Rev 22:3.