The Covenant of Grace.
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There is no covenant of grace - Paul did state that grace did abound:
Rom 5:20 And law came in, that the offence might abound, and where the sin did abound, the grace did overabound,
Rom 5:21 that even as the sin did reign in the death, so also the grace may reign, through righteousness, to life age-during, through Jesus Christ our Lord.
Rom 5:20 And law came in, that the offence might abound, and where the sin did abound, the grace did overabound,
Rom 5:21 that even as the sin did reign in the death, so also the grace may reign, through righteousness, to life age-during, through Jesus Christ our Lord.
Read Galatians 4 and 5 about the fullness of time and how Jesus redeemed us from under the curse of the law and caused us to be adopted as sons. We are no longer under law but under grace. 
And yet even the law was given by grace, and did not nullify the covenant with Abraham as Paul goes to great lengths to show. We can see the covenant of grace dispensed in two different ways.. one in the siniatic covenant (Moses), and 2nd under the better new covenant through Christ.
Abraham believed the promises of God and it was counted to him as righteousness... We believe the promises of God in Christ and it is counted to us as Righteousness. One covenant of Grace, dispensed in two different ways. one forshadowed the Better.
