I put this together a while ago, I don't know if I still agree with it, or would word it the same, take it for what it's worth.
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It's important to keep in mind, the Law didn't make anything wrong (except the Sabbath) that wasn't already wrong. Following is a mixed post of quotes, mostly mine but some are taken from unsited sources.
From the time of Adam, it was wrong to kill, steal, or lie. Law merely added penalties (and they are strictly limited to Israel) for breaking the Law.
It was to be carried out by the Jewish leaders (quote: 'notice that God protected the murderer Cain, because there was no law yet, and, therefore, no penalty.')
No one today who believes we are under the Law would advocate putting church members to death for picking up sticks on the Sabbath. That's why Paul says in Galatians, "you who desire to be under the Law, do you not hear the Law? (4:21).
The believer is not under the Law in any sense as we read in Rom. 6:14, because Jesus our Lord has already paid the death penalty demanded of those who break it (Rom. 6:6; 7:4) Remember what James wrote, you're dead after breaking the Law once (James 2:10). From that point on (a death sentence) being under a law is meaningless, because you can only die once, so the second murder, etc., are freebies. What happens to a condemned murderer on death row who kills a guard?
"This only would I learn of you, Received ye the Spirit by the works of the law, or by the hearing of faith? Are ye so foolish? having begun in the Spirit, are ye now made perfect by the flesh?" (Gal. 3:2- 3).
"I marvel that ye are so soon removed from him that called you into the grace of Christ unto another gospel: which is not another [there could not be another gospel]; but there be some that trouble you, and would pervert the gospel of Christ. But though we, or an angel from heaven, preach any other gospel unto you than that which we have preached unto you, let him be accursed" (Gal. 1:6-8 ).
The doctrine many folks keep bringing up without realizing it is called "active righteousness" and ends up in the believer being under the law because Christ kept the Law. Reformed writer Dr. R. C. Sproul sums it like this: The cross alone, however, does not justify us . . . We are justified not only by the death of Christ, but also by the life of Christ. Christ's mission of redemption was not limited to the cross. To save us He had to live a life of perfect righteousness. His perfect, active obedience was necessary for His and our salvation . . . We are constituted as righteous by the obedience of Christ which is imputed to us by faith [R. C. Sproul, Faith Alone, (Grand Rapids, MI: Baker Books, 1997), p. 103].
The question then is, does following the Law make one righteous? Was Abram declared rigtheous because of his works or his faith? Jesus is perfect, He is God and did the will of the Father perfectly “For Christ once suffered for sins, the Just for the unjust, that He might bring us to God, being put to death in the flesh . . .†1 Peter 3:18 “. . . being justified by His blood we shall be saved from wrath through Him†Rom.5:9. We are justified and seen as righteous because of Christ's death and not His perfect Law keeping. Our justication is in the risen Christ, He is our righteousness, not Christ Law keeping in our place, "But that no man is justified by the law in the sight of God, it is evident: for, The just shall live by faith." Gal. 3
So what is the purpose of the Law if it doesn't make one righteous? The Law was a school master ("Wherefore the law was our schoolmaster to bring us unto Christ, that we might be justified by faith. But after that faith is come, we are no longer under a schoolmaster.") and as the school master of the Mosaic covenant, it showed the Jewish nation their sins and condemned those under the Law.
William Kelly wrote: Had Christ only kept the law, neither your soul nor mine could have been saved much less be blessed as we are. Whoever kept the law, it would have been a righteousness of the law, and not God's righteousness, which has not the smallest connection with obeying the law. Because Christ obeyed unto death, God brought in a new kind of righteousness â€â€not ours, but His own favor. Christ has been made a curse upon the tree; God has made Him sin for us that we might be the righteousness of God in Him.
Note: This is the Biblical view, it's not antinomianism (The word comes from the Greek anti, against, and nomos, law. It is the unbiblical practice of living without regard to the righteousness of God, using God's grace as a license to sin, and trusting grace to cleanse of sin.)
http://www.carm.org/dictionary/dic_a-b.htm#_1_7 In no way am I suggesting that we live sinful lives, that's a red herring.
Here's a wonderful story to explain the relationship a believer has with the carnal nature and the Law.
Romans 7:
Notice first that in the picture by which, in Romans 7:1-4, Paul illustrates our deliverance from the Law, there is only one woman, while there are two husbands. The woman is in a very difficult position, for she can only be wife of one of the two, and unfortunately she is married to the less desirable one. Let us make no mistake, the man to whom she is married is a good man; but the trouble lies here, that the husband and wife are totally unsuited to one another. He is a most particular man, accurate to a degree; she on the other hand is decidedly easy-going. With him all is definite and precise; with her all is casual and haphazard. He wants everything just so, while she takes things as they come. How could there be happiness in such a home?
And then that husband is so exacting! He is always making demands upon her. And yet one cannot find fault with him, for as a husband he has a right to expect something of his wife; and besides, all his demands are perfectly legitimate. There is nothing wrong with the man and nothing wrong with his demands; the trouble is that he has the wrong kind of wife to carry them out. The two cannot get on at all; theirs are utterly incompatible natures. Thus the poor woman is in great distress. She is fully aware that she often makes mistakes, but living with such a husband it seems as though EVERYTHING she says and does is wrong! What hope is there for her? If only she were married to that other Man all would be well. He is no less exacting than her husband, but He also helps much. She would fain marry Him, but her husband is still alive. What can she do? She is "bound by law to the husband" and unless he dies she cannot legitimately marry that other Man.
The first husband is the Law; the second husband is Christ; and you are the woman. The law requires much, but offers no help in the carrying out of its requirements. The Lord Jesus requires just as much, yea more, but what He requires from us He Himself carries out in us. The law makes demands and leaves us helpless to fulfill them; Christ makes demands, but He Himself fulfills in us the very demands He makes. Little wonder that the woman desires to be freed from the first husband that she may marry that other Man! But her only hope of release is through the death of her first husband, and he holds on to life most tenaciously. Indeed there is not the least prospect of his passing away (see Matthew 5:18).
The law is going to continue for all eternity. If the Law will never pass away, then how can I ever be united to Christ? How can I marry a second husband if my first husband resolutely refuses to die? There is only one way out. If HE will not die, I can die, and if I die the marriage relationship is dissolved. And that is exactly God’s way of deliverance from the Law. The most important point to note in this section of Romans 7 is the transition from verse 3 to verse 4. Verses 1 to 3 show that the husband should die, but in verse 4 we see that in fact it is the woman who dies. The Law does not pass away, but I pass away, and by death I am freed from the Law. [Footnote #15--Watchman Nee, THE NORMAL CHRISTIAN LIFE, pages 107-109 (Chapter 9).]
So what is the basis as a rule of life for the believer?
Quote: We are fully convinced that a superstructure of true, practical holiness can never be erected on a legal basis; and hence it is that we press 1 Cor 1:30, upon the attention of our readers. It is to be feared that many who have, in some measure, abandoned the legal ground, in the matter of "righteousness," are yet lingering thereon for "sanctification." We believe this to be the mistake of thousands, and we are most anxious to see it corrected. It is evident that a sinner cannot be justified by the works of the law; and it is equally evident that the law is not the rule of the believer’s life. As to the believer’s rule of life, the apostle does not say, "To me to live is the law;" but, "To me to live is Christ" (Phil. 1:21). Christ is our rule, our model, our touchstone, our all. We receive the Ten Commandments as part of the canon of inspiration; and moreover, we believe that the law remains in full force to rule and curse a man as long as he liveth. Let a sinner only try to get life by it, and see where it will put him; and let a believer only shape his way according to it, and see what it will make of him. We are fully convinced that if a man is walking according to the spirit of the gospel, he will not commit murder nor steal; but we are also convinced that a man, confining himself to the standard of the law of Moses would fall very short of the spirit of the gospel. – C.H. MACKINTOSH [Footnote #9--THE MACKINTOSH TREASURY– MISCELLANEOUS WRITINGS BY C.H.Mackintosh, p. 628, 653-654].
I stand with Paul when he wrote, "I am crucified with Christ: nevertheless I live; yet not I, but Christ liveth in me: and the life which I now live in the flesh I LIVE BY THE FAITH OF THE SON OF GOD, who loved me, and gave Himself for me." Gal. 2:20 Because of Christ, I am a new creature (Gal. 6:15-16) set apart from the Law (2 Cor. 5:17; Eph. 2:8-10; 4:24; Col. 3:10)
Peace and God bless.
Jason