This verse is part of a dramatic scene in the story of Joseph and his brothers in Genesis. Joseph, who his brothers had sold into slavery years earlier but who has now risen to a position of power in Egypt, is testing his brothers. He has secretly placed a silver cup in Benjamin's sack, then accuses them of theft.

Here's a breakdown of what the verse means:

"With whomever of your servants it is found, let him die...": This is a harsh penalty. The brothers, confident in their innocence, are stating that whoever is found with the stolen cup should be put to death. This shows their desperation to prove their honesty and to avoid suspicion from the powerful official (Joseph).

"...and we also will be my lord’s slaves.”: If the cup is found on any of them, not only should the guilty one die, but the remaining brothers are willing to become Joseph's slaves as compensation for the "theft." This highlights their willingness to take collective responsibility and to atone for what they believe to be a false accusation. It also indicates a significant change from their previous behavior, as they seem to now value family unity and are willing to sacrifice their own freedom.

In summary, the verse is a bold and rash statement made by Joseph's brothers, driven by their desire to prove their innocence and to avoid suspicion. They are so confident that none of them stole the cup that they are willing to face severe consequences if proven wrong.

Significance in the context of the story:

The verse is important because it sets the stage for the revelation of Joseph's identity. When the cup is found in Benjamin's bag, Joseph's brothers are trapped by their own words. The situation becomes incredibly emotional and complex, ultimately leading to Joseph revealing himself to his brothers. This sets in motion the reconciliation between them and Joseph's eventual forgiveness. It also leads to the saving of their family from famine.