This model of the atonement was first articulated by Anselm of Canterbury and picked up on by the Reformers.
The main point is that Christ saves sinners by being their substitute. Christ bore the punishment for his people's sins. And because of the righteousness of Christ God poured out his love and mercy on them.
In the atonement Christ experienced what we needed to experience, both judgment and death as well as mercy and life. He assumed the nature in which the disobedience was committed and in which the blessing was needed.
Christ never deserved to be treated by his Father the way he was treated. We are guilty and worthy of damnation. Yet, God shows his mercy, goodness and love and gives us immortality and life eternal.
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