I want to move on and ask some more questions:
Did the Lord Jesus pay to the Father a valuable price and ransom for our sins, as our surety or guarantor, so as to discharge the debt that we were under? Did He thereby make satisfaction to the justice of God?
1. Our Lord paid such a price or ransom. Matthew 20:28. He came, 'to give His life a ransom [Greek lutron] for many.' C.f. also Mark 10:45 where the word used is antilutron, a ransom to be accepted in the stead of others, as in 1 Tim. 2:6. By this ransom we are said to be justified freely by God's grace through the ransom-paying [dia tes apolutrosis] of Christ (Romans 3:24). We 'were bought at a price' (1 Cor. 6:20) - a price exalted above silver or gold in 1 Peter 1:18.
2. He paid this price into the hands of His Father. A price must be paid to somebody to deliver prisoners from captivity - either to the Judge (God) or to the jailor (Satan). But Satan was to be conquered, not satisfied (Luke 10:18; Rev. 12:9ff). But it was God whose wrath is upon us (John 3:36). It is He whose wrath abides on us (John 3:36); it is He who has confined us all under sin (Gal. 3:22); He is the one Lawgiver who is able to save and to destroy (James 4:12). Therefore, Christ has given Himself as 'an offering and a sacrifice to God...' and His soul to be 'an offering for sin' (Isaiah 53:10).
3. He did this as our Surety or Guarantor. He has become a 'Surety of a better covenant' (Heb. 7:22). A surety is one who guarantees a debt for someone else, and if that someone defaults on the payment, the surety is required to make payment in full as if he were the debtor even if he has never been in debt to anyone in his life. 'Though I have stolen nothing, I still must restore it' (Psalm 66:4, clearly a Messianic Psalm, cf. vs. 9, 21).
4. Did He make satisfaction to the justice of God by all this? Yes He did. According to Romans 3:24-25, we are justified freely by the ransom-paying of Christ, whom God set forth as a propitiation, an atonement, mercy seat, covering for sin, and the purpose of this is to demonstrate God's righeousness, both in the past and in the presnt (v.26). In Heb. 2:17, the Lord Jesus is said to be 'a merciful and faithful High Priest in things pertaining to God to make propitiation for the sins of the people.' A 'propitiation' is a sacrifice that turns away wrath. God is propitiated by the offering of Christ. Therefore we are told in Romans 5:11 that through our Lord Jesus, 'we have now received the reconciliation.'