For as much as ye know that you were not redeemed with corruptible things, like silver and gold, from your vain manner of life received by tradition from your fathers, but with the precious blood of Christ, as of a lamb without blemish and without spot. Webster's Ninth New Collegiate Dictionary, p. 986. Redeemed and redemption are described in the above definition as rescuing or being delivered from bondage. Someone must release the captives by paying their ransom.
Someone has to buy off the offended, for the offender.
The Lord Jesus Christ is both the redemption price and the Redeemer of the sinner. He is the sinner's deliverance, his ransom price. He, Himself, became a curse, under the Law, to redeem the lawbreakers. Who was raised form the dead, that we should bear fruit to God. Redeemed by the blood of the Lamb.