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Michael has written an excellent and fully developed answer to the Law of Liberty. May I just add this one scripture from Gal 5:1-6 "Stand fast therefore in the liberty wherewith Christ hath made us free, and be not entangled again with the yoke of bondage. 2 Behold, I Paul say unto you, that if ye be circumcised, Christ shall profit you nothing. 3 For I testify again to every man that is circumcised, that he is a debtor to do the whole law. 4 Christ is become of no effect unto you, whosoever of you are justified by the law; ye are fallen from grace. 5 For we through the Spirit wait for the hope of righteousness by faith. 6 For in Jesus Christ neither circumcision availeth any thing, nor uncircumcision; but faith which worketh by love. The "Hope of Righteousness by faith" causes us to seek circumcision of the heart rather than circumcision of the body. The Law of Liberty causes the Grace and love of Christ to be shed in our heart. And faith in His work for us causes love toward God and our fellow man because we then understand that our own righteousness is not based on our ability to follow the law, but in His ability to save us while we were still sinners.
The Bible itself is the law of liberty. It is the ethical guide for Christian living (James 1:25; 2:8). And when we obey it, it sets us free (Psalm 119:45; John 8:34, 31-32). Biblical writers often speak of obedience in terms of practicing the law (Deut 28:58). Within the boundaries of the law, people have liberty to choose how they act (John 8:36). The Greek word used here for “perfect,” teleios (as in James 3:2 Adj-NMS GRK: πταίει οὗτος τέλειος ἀνήρ δυνατὸς NAS: in what he says, he is a perfect man, KJV: the same [is] a perfect man, INT: stumble this one [is] a perfect man able), is used to speak of completeness—meaning the law accomplishes its purposes. Paul says Christians have liberty from sin and death (Rom 8:2).
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