From BiblePortal Wikipedia

Webster's Dictionary [1]

(1): (n.) The act of applying or laying on, in a literal sense; as, the application of emollients to a diseased limb.

(2): (n.) Hence, in specific uses: (a) That part of a sermon or discourse in which the principles before laid down and illustrated are applied to practical uses; the "moral" of a fable. (b) The use of the principles of one science for the purpose of enlarging or perfecting another; as, the application of algebra to geometry.

(3): (n.) The thing applied.

(4): (n.) The act of applying as a means; the employment of means to accomplish an end; specific use.

(5): (n.) The act of directing or referring something to a particular case, to discover or illustrate agreement or disagreement, fitness, or correspondence; as, I make the remark, and leave you to make the application; the application of a theory.

(6): (n.) The capacity of being practically applied or used; relevancy; as, a rule of general application.

(7): (n.) The act of fixing the mind or closely applying one's self; assiduous effort; close attention; as, to injure the health by application to study.

(8): (n.) The act of making request of soliciting; as, an application for an office; he made application to a court of chancery.

(9): (n.) A request; a document containing a request; as, his application was placed on file.

Charles Buck Theological Dictionary [2]

Is used for the act whereby our Saviour transfers or makes over to us what he had earned or purchased by his holy life and death. Accordingly it is by this application of the merits of Christ that we are to be justified and entitled to grace and glory. Application is also used for that part of a sermon in which the preacher brings home of applies the truth of religion to the consciences of his hearers.