The Better Covenant
The old covenant of works which we broke in our father Adam and by which we were all lost is no more. In Christ we who believe are saved by a "better covenant", by the obedience of Christ as our Representative and covenant Head. The contracting parties in this better covenant were the Persons of the eternal, triune God, Father, Son, and Holy Spirit. The stipulations required in the covenant for our salvation were perfect righteousness and blood atonement. As our covenant Surety, the Lord Jesus Christ promised to meet those stipulations for us. The beneficiaries of the covenant are God's elect, all true believers. Upon our Surety's pledge of obedience unto death, we were blessed with all spiritual blessings in him from eternity (Eph. 1:3; II Tim. 1:9). Because of our election by God the Father and our redemption by God the Son, we have been regenerated and called by God the Spirit, who has sealed to us all the blessings of the covenant and is the earnest (the guarantee) of our everlasting inheritance of grace.