"Behold, the days come, saith the LORD, that I will make a new covenant with the house of Israel, and with the house of Judah" (Jer. 31:31-33).
The promises of the covenant of grace are sure, everlasting and ordered in all things to God's spiritual family (2Sam. 23:5; Heb. 7:22; Rom 4:16).
1). I will make and establish a new covenant; "I will make a new covenant with the house of Israel, and with the house of Judah." This covenant is called new, not because it is newly conceived, but rather because it is newly revealed in the gospel of Christ. It is always new and fresh, it will never grow old nor give way to another (Heb.13:20). It provides all things new. New spiritual life (John 10:27-30). New spiritual nature (2Cor. 5:17). New spiritual heart (Ezk. 36:26). New spiritual name (Rev.2:17). New song of redemption in the heart (Rev. 1:5). All of this will enable us to enjoy the New Jerusalem (Rev.21:2).
2). The covenant of grace reveals that salvation is a heart work; "I will put my law in their inward parts, and write it in their hearts; and will be their God." The salvation that is revealed in this covenant is a revelation of the glory and greatness of God our Saviour that shines in the person of Christ Jesus (2Cor. 4:6). This is the "law" that is established in the heart, it is the principle of love and the standard of salvation accomplished by Jesus Christ alone (Jas. 1:25; Jas. 2:8; John 19:30; Isa. 42:4).
3). The covenant of grace is certain, sure and guarantees salvation to all of God's elect; " I will be their God, and they shall be my people." God is God and Saviour of His covenant people (1Peter 2:9-10). God's elect are His special, peculiar, distinct chosen people in such a sense as others never will be (2Thes. 2:13; Rom.8:29-30).
4). God's covenant people are taught of God; " They shall teach no more every man his neighbour, and every man his brother, saying, know the LORD: for they shall all know me, from the least of them unto the greatest of them, saith the LORD." All who are born of God are taught of God (John 6:44-45). They are taught to look, trust, and come to Christ for all spiritual blessings (Eph.1:3; 1Cor. 1:30; Col. 2:9-10; 3:11).
5). God 's covenant reveals full, complete and eternal redemption from all sin; " For I will forgive their iniquity, and I will remember their sin no more." Think of it! God remembers the sin of every believer no more (Heb. 10:17). The blood atonement of the Lord Jesus Christ fully satisfied every demand of God's holy justice and sets us free in Christ (Heb. 9:12; Psalm 103:12; Rom. 8:32-35. Gal. 3:10-13).
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