What is our standing as believers under grace?
Believers stand as free men and women under grace, and their standing is liberty rather than legalism. This liberty is not license; it is freedom from the horrors of legalism. They are exhorted to stand fast in that liberty and never give in to legalism.
Les explains that after showing what he has just shown us, the next word is liberty. He notes that Americans understand liberty more than any other people, but liberty isn't license and was never intended to be license. The believer's position is now as free men and women under grace, and Les warns never to give in to the horrors of legalism. He calls them to stand fast in that liberty.