High Quality Content by WIKIPEDIA articles! New Covenant Theology (or NCT) is a Christian theological system which teaches that the Old Testament Laws have been fulfilled and abrogated or cancelled with Christ`s death, and replaced with the Law of Christ of the New Covenant. It shares similarities and yet is distinct from Dispensationalism and Covenant Theology and attempts to eliminate the perceived weak points of the two. New Covenant theologians, however, understand many of the Old Covenant laws as reinstituted under the New Covenant.