The Collaborative International Dictionary of English v.0.48:

Ransom \Ran"som\ (r[a^]n"s[u^]m), 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 captured property, by
      payment of a consideration; redemption; as, prisoners
      hopeless of ransom. --Dryden.
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   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.
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            Thy ransom paid, which man from death redeems.
                                                  --Milton.
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            His captivity in Austria, and the heavy ransom he
            paid for his liberty.                 --Sir J.
                                                  Davies.
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   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.
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   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.
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