What do you think this means?

(James 2:10) For whosoever shall keep the whole law, and yet offend in one point, he is guilty of all.
The new covenant is what is being referred to as the law.

I am sorry but this sounds fairly legalistic. If we are given the same grace that has saved us, then where is that same grace? You even quoted that we all fall short and it's by that grace and mercy that are still loved by God that He sent Jesus to die for us on the cross. That in itself is enough and anything else that is added does cheapen this. The way you phrase it appears as if that if we break one, we break all and are guilty. While we should strive to be more like Jesus every day, there is NO way we can ever become blameless in the sight of God.

Maybe I should have said it differently then. Instead of saying broken let us use the word kept like it says in James 2:10. That was my error in trying to explain. The point being, you must keep all of God's commands, not pick and choose.

There are many more. According to Gods word these are all commands of God. A command is also a law if a law is not kept there are consequences, if a command is not kept there are consequences. (James 2:10) For whosoever shall keep the whole law, and yet offend in one point, he is guilty of all.