What is Grace?

Just recently have I been introduced to a fresh perspective of God's Divine Grace. Up to this point I have always thought of it as "unmerited favor", but it is so much more than just saying "grace is unmerited favor". Up until this last week that was my answer, and a simple one I'll add. At care group this last week we looked at God's Grace as a Divine and Eternal Attribute. During a time of reflection and discussion I have come to see more clearly how little I know of His Grace, much less live in it. I need to be reminded that... and I'm quoting "Sin is more than breaking God's law. It is aggravated assault upon the infinite dignity of His person. Because of this, we deserve His wrath, but instead we receive His favor. That is grace." That is from Jerry Bridges treatment on God's Grace through a short illustration, read here.