Charlie's Corner
Definition of Covenant

A contract or agreement between two parties. In the Old Testament the Hebrew word berith is always thus translated. Berith is derived from a root which means “to cut,” and hence a covenant is a “cutting,” with reference to the cutting or dividing of animals into two parts, and the contracting parties passing between them, in making a covenant (Gen. 15; Jer_34:18, Jer_34:19). The corresponding word in the New Testament Greek is diatheke, which is, however, rendered “testament” generally in the Authorized Version. It ought to be rendered, just as the word berith of the Old Testament, “covenant.”
Easton's Bible Dictionary

Covenant. The Hebrew berith means primarily "a cutting", with reference to the custom of cutting or dividing animals in two and passing between the parts in ratifying a covenant. (Genesis 15; Jer_34:18-19. In the New Testament, the corresponding Greek word is diatheke, which is frequently translated testament, in the Authorized Version. In its biblical meaning two parties, the word is used -- 1. Of a covenant between God and man; for example, God covenanted with Noah, after the flood, that a like judgment should not be repeated. It is not precisely like a covenant between men, but was a promise or agreement by God. The principal covenants are the covenant of works -- God promising to save and bless men on condition of perfect obedience -- and the covenant of grace, or God's promise to save men on condition of their believing in Christ and receiving him as their Master and Saviour. The first is called the Old Covenant, from which we name the first part of the bible the Old Testament, the Latin rendering of the word covenant. The second is called the New Covenant, or New Testament. 2. Covenant between man and man, that is, a solemn compact or agreement, either between tribes or nations, Jos_9:6; Jos_9:15; 1Sa_11:1, or between individuals, Gen_31:44. By which each party bound himself to fulfill certain conditions and was assured of receiving certain advantages. In making such a covenant, God was solemnly invoked as witness, Gen_31:50, and an oath was sworn. Gen_21:31. A sign or witness of the covenant was sometimes framed, such a gift, Gen_21:30, or a pillar or heap of stones erected. Gen_31:52.

Smith's Bible Dictionary
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Covenant