BEING JUSTIFIED FREELY

23	for all have sinned, and fall short of the glory of God; panteV gar hmarton kai usterountai thV doxhV tou qeou Verse 23 Sinned (hrmarton). Constative second aorist active indicative of amartanw as in Romans 5:12. This tense gathers up the whole race into one statement (a timeless aorist). And fall short (kai usterountai). Present middle indicative of usterew, to be usteroß (comparative) too late, continued action, still fall short. It is followed by the ablative case as here, the case of separation.
24	being justified freely by his grace through the redemption that is in Christ Jesus:

     dikaioumenoi  dwrean th autou cariti  dia   thV apolutrwsewV thV en  cristw ihsou

(dikaioumenoi). Present passive participle of dikaiow, to set right, repeated action in each case, each being set right. 

Freely (dwrean). As in Galatians 2:21. By his grace (th autou cariti).                                Instrumental case of this wonderful word cariß WONDERFUL WORD OF GRACE  which so richly expresses Paul's idea of salvation as God's free gift. 

Through the redemption (dia thß apolutrwsewß). A releasing by ransom (apo, lutrwsiß from lutrow and that from lutron, ransom). 

God did not set men right out of hand with nothing done about men's sins.

 We have the words of Jesus that he came to give his life a ransom (lutron) for many (Mark 10:45; Matthew 20:28). Lutron is common in the papyri as the purchase-money in freeing slaves (Deissmann, Light from the Ancient East, pp. 327f.). That is in Christ Jesus (th en Cristwi Ihsou). There can be no mistake about this redemption. It is like John 3:16.