There are two types of covenants: conditional and unconditional covenants.  God’s covenant with Abraham was unconditional after Abraham believed – it’s unconditional because after his belief nothing could reverse the promises God made.  God’s covenant with Israel through Moses [AKA “The Mosaic Covenant”] where He gave the Law was conditional on their obedience to the law in the land [Ex 20:1-31:18].

A covenant has several elements to be looking for:

a) participants [God and Israel through Moses]

b) provisions [The land, the seed and the blessing]

c) a state [active/inactive] if it’s conditional

d) a sign [a sacrifice on an altar, circumcision]

e) a token [the Sabbath] to remind the participants of the covenant

Covenants usually set up what theologians call a ‘dispensation’ or a period of stewardship where the provisions and tokens are observed.  However, covenants can come to an end.  When Christ came and was crucified, died, buried, resurrected, and then ascended God did away with the temple system by literally tearing down the temple through the Romans. The Law could NOT be fulfilled and was rendered inoperative. In the millennial kingdom the Law will be fulfilled again while Abraham possesses the land.