The three main promises expressed in the Abrahamic covenant were descendants, blessings, and land. Although Abraham did not have a generation then, God blessed him later with a son and a long lineage. The promise of descendants happened in various ways since we have different ethnicities all around the globe. Some of the main groups, such as Christianity, Judaism, and Islam, originated from Abraham (Gilman, 2014). The three ethnicities share a common belief in Abraham, making him the origin of believers today – we all share a common faith hence becoming God's people through Abraham. The promise of land is another element expressed in the covenant. God promises Abraham to deliver the land to his descendants. God fulfilled the land promise when the Israelites inhabited Canaan after God delivered them from Egypt. Besides, Abraham left his native home and traveled to an unknown destination where God had directed him to go. The last element of the covenant is the blessings promised to Abraham and his descendants. God promised Abraham to save his descendants through the blessing of salvation and redemption. Jesus Christ came to fulfill the blessings promised to Abraham. According to the Bible, whoever believes in Jesus will have everlasting life.
Faith and Law
According to Galatians 3, all those who believe in Christ are Abraham's true descendants, for Abraham believed in God, and everything in him was accounted as righteous. God promised Abraham to bring all nations together. Therefore, by believing and having faith in Christ, we become one – there is no wealthy or poor. The statement "observing the law" means relying only on the written statements without internalizing and understanding them. Relying on the law means that we follow the Bible and depend on it for our salvation. In Mark 6:7, Jesus reminded the Scribes and the Pharisees of their hypocrisy, for through observing the law, we honor God with our lips and not through our hearts. The law does not justify us in the sight of God. That is why it is all in vain if we rely on the law, for King Solomon in Ecclesiastes reminded us that man's heart is evil. God justifies His people through repentance and their faith.
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Reference
Gilman, S. L. (2014). Judaism, Christianity, and Islam: Collaboration and Conflict in the Age of Diaspora (1st ed.). Hong Kong University Press. https://www.jstor.org/stable/j.ctt13x0mf0