Ephesians 1:7 – “In Him we have redemption through His blood, the forgiveness of sins, according to the riches of His grace.”
When Jesus cried out “It is finished” on the cross. It was not a statement of defeat, but a declaration of victory. It was the shout of One who had won a great victory. When we examine the phrase in the original language, we learn the following meanings: Jesus had finished the work the Father had sent Him to do. The Greek word in the New Testament was the equivalent of the Hebrew word spoken by the High Priest when he presented a sacrificial lamb without spot or blemish.
Rick Renner writes, “So when Paul used this word in Ephesians 1:7 to describe the forgiveness of sins, he was saying that God has permanently dismissed our past sins from us. We are liberated completely from them. He has discharged them from us; He has sent them away; and He has released us from them. The debt we once owed due to past transgressions is canceled, and God has freed us from the guilt of those previous actions. Because the blood of Jesus was shed for the payment of our sin, God has forfeited any right to hold us captive for that which we have already received forgiveness.”[i]
The word was used in the business world to signify the full payment of debt. Alan Carr writes, “This English phrase is from a word that is very expressive and filled with meaning. In fact, it is a word that was used in many areas of society. Some of which were:
· A Servant's Word - Used when a task had been completed.
· A Priest's Word - Used when a sacrificial animal was found to be worthy.
· A Farmer's Word - Used when a perfect specimen had been born into the flock.
· An Artist's Word - Used when the final touches had been applied to a masterpiece.
· A Merchant's Word - Used when a deal had been struck and all the haggling had ended. Its usage meant that both parties were satisfied.
When a debt had been fully paid off, the parchment on which the debt was recorded was stamped with the Greek word, tetelestai, which meant the debt had been paid in full. This means that once a person calls Jesus the Lord of his or her life and personally accepts His sacrifice, no debt of sin exists for that person any longer. The debt is wiped out because Jesus paid the price for sin that no sinner could ever pay.
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