1. [n]  the act of freeing from captivity or punishment
2. [n]  payment for the release of someone
3. [n]  money demanded for the return of a captured person
4. [v]  exchange or buy back for money; under threat

1. \Ran"som\, n. [OE. raunson, raunsoun, OF. ran[,c]on,
   raen[,c]on, raan[,c]on, F. ran[,c]on, fr. L. redemptio, fr.
   redimere to redeem. See {Redeem}, and cf. {Redemption}.]
   1. The release of a captive, or of captive, or of captured
      property, by payment of a consideration; redemption; as,
      prisoners hopeless of ransom. --Dryden.
   2. The money or price paid for the redemption of a prisoner,
      or for goods captured by an enemy; payment for freedom
      from restraint, penalty, or forfeit.
            Thy ransom paid, which man from death redeems.
                                                  --Milton.
            His captivity in Austria, and the heavy ransom he
            paid for his liberty.                 --Sir J.
                                                  Davies/.
   3. (O. Eng. Law) A sum paid for the pardon of some great
      offense and the discharge of the offender; also, a fine
      paid in lieu of corporal punishment. --Blackstone.
   {Ransom bill} (Law), a war contract, valid by the law of
      nations, for the ransom of property captured at sea and
      its safe conduct into port. --Kent.
   

2. \Ran"som\, v. t. [imp. & p. p. {Ransomed}; p. pr. & vb.
   n. {Ransoming}.] [Cf. F. ran[,c]onner. See {Ransom}, n.]
   1. To redeem from captivity, servitude, punishment, or
      forfeit, by paying a price; to buy out of servitude or
      penalty; to rescue; to deliver; as, to ransom prisoners
      from an enemy.
   2. To exact a ransom for, or a payment on. [R.]
            Such lands as he had rule of he ransomed them so
            grievously, and would tax the men two or three times
            in a year.                            --Berners.
   

the price or payment made for our redemption, as when it is said that the Son of man "gave his life a ransom for many" (Matt. 20:28; comp. Acts 20:28; Rom. 3:23, 24; 1 Cor. 6:19, 20; Gal. 3:13; 4:4, 5: Eph. 1:7; Col. 1:14; 1 Tim. 2:6; Titus 2:14; 1 Pet. 1:18, 19. In all these passages the same idea is expressed). This word is derived from the Fr. rancon; Lat. redemptio. The debt is represented not as cancelled but as fully paid. The slave or captive is not liberated by a mere gratuitous favour, but a ransom price has been paid, in consideration of which he is set free. The original owner receives back his alienated and lost possession because he has bought it back "with a price." This price or ransom (Gr. lutron) is always said to be Christ, his blood, his death. He secures our redemption by the payment of a ransom. (See REDEMPTION.)