If ye will obey . . . and keep My covenant, then ye shall be a peculiar [purchased] treasure . . . a kingdom of priests, and an holy nation.
This is the OLD - it’s conditional. The people of God were required to keep the law in order to be God’s peculiar treasure, kingdom of priests and holy nation. But in Christianity it is remarkably different. Peter states in his first letter (chap. 2, verse 9): “But ye ARE a . . . royal priesthood, an holy nation; a [purchased] people.” Yes, Christ fulfilled the law in every detail. Now those that believe on Him are already what the children of Israel could never be. This is very wonderful. And it’s all because of God’s grace.