by abolishing in His flesh the enmity, which is the Law of commandments contained in ordinances, so that in Himself He might make the two into one new man, thus establishing peace,Ephesians 2:15(NASB)
Jesus Christ made the Law of no effect by giving His sinless life to pay the full price of all sin, which was the only payment that a holy God could accept.
Only the shed blood of Jesus Christ (the perfect Son of God and sinless Son of Man), could satisfy the righteous demands of God Who had decreed that the wages of sin is death. Jesus died to pay that price for you, for me, and for all who would trust in Christ as Saviour, and in so doing, Jesus made the commands and demands of the Law of no effect for all who trust in Him.
Jesus died to pay the penalty of God's broken Law which is broken by every man: "For all have sinned and all fall short of the glory of God." And Christ's shed blood paid the full and final price for all sin so that whosoever believes on Him would not perish but have everlasting life, and be redeemed from the curse of the Law.
For God's prefect Law with its deadly consequences could only be made of no effect through the shed blood of a willing sacrifice - a perfect sacrifice. Only Christ lived a perfect life as God's Law demanded, and so only He was qualified to offer His life as a ransom for many. The Lord Jesus Christ Himself made of no effect the Law (which consisted of impossible commands, unachievable requirements, and unattainable rules and regulations) for all who would believe in Him.
Jesus paid the price of sin for all people, but Jesus made the Law of no effect for all who would believe on His name. Although the sins of the unsaved have been paid for by the blood of Christ, they remain under the condemnation of the Law because they have not believed on the only begotten Son of God. But there is no condemnation to those that believe in Jesus Christ as Saviour because His shed blood nullifies the condemnation of the Law for all who will trust in His name.
The wall of partition that had been erected between God's chosen people Israel and the pagan Gentile nations, who were dead in their sins and without God in the world, was removed so that Christ might create in Himself one new man from these two groups of people. The result was PEACE; Peace with God for forgiven sinners, and the peace of God within the hearts of all who trust in Christ as Saviour.
The blood of Christ has removed the curse of the Law and made it of no effect for all who trust in His name, whether they be Jew or Gentile: "And whoever shall call upon the name of the Lord shall be saved."
Dear Lord, thank You that You loved us so much that You would willingly come to earth to suffer and die so that the effect of the Law might be nullified in the lives of all who trust in Your shed blood for salvation. Thank You that in Christ, I have peace with God and am no longer under the condemnation of the Law, and thank You that I have the peace of God in my heart. Help me to live a holy life to Your honour and glory. This I ask in Jesus' name, AMEN.