The Bible teaches that there are different dispensations or divinely ordered ways of God dealing with mankind throughout the ages. A dispensation is simply a period of time in which God deals with mankind in a certain way.
The Old Testament law was only a temporary dispensation and ruled from the giving of the law (Ex. 20) until the ministry of John the Baptist. When Christ came, He put an end to the law for righteousness (Rom. 10:4). Anyone who advocates the keeping of the law for the purpose of right standing with God is going back to an Old Testament system of law that has been abolished and is making the work of Christ void in his life.
The New Testament believer is under the dispensation of God’s grace. We are not under the law. That doesn’t mean the law has passed away. It is easier for heaven and earth to pass away than for the smallest part of the law to fail. The law hasn’t failed. It has been fulfilled (Mt. 5:17). Christ fulfilled every jot and tittle of the law for us and imputes to us that righteousness is not based on our performance but on our faith in Him. The law was never given for the purpose of justification. It was totally powerless to save. It only showed us our need and pointed us to a Savior.
The law was not made for a righteous man and it still serves a purpose for those who are not born again. For those who do not accept Jesus as their Savior, the wrath of God, which the law produces, abides on them. In this present age, Jesus has come not to condemn men but to bring them grace and truth. Those who do not believe on the Son are presently under the wrath of the Old Testament law, and, unless they repent, will suffer the wrath of God eternally. Thank God for His grace today.