Just what is Grace?

I have been thinking about this abstraction - grace. Just what is it?

grace - noun
(in Theology)
1. the freely given, unmerited favor and love of God
2. the influence or spirit of God operating in humans to regenerate or strengthen them

I have been looking for ways to extend grace to those around me. I have been given so much grace - God has been so good,
so loving,
so forgiving,
so patient,
. . .How can I be any less with others I have contact with?

If I cannot extend grace to them, then I do not deserve God's grace, do I?

I am interested in learning more and more about this Grace . . .
How should it affect my attitude?
How should I react to adversity?
How will I respond to the gentle nudges that lead me to speak to a hurting heart,
to comfort a grieving heart,
to give a hug to a longing heart.
To be His hand extended.

Want to come with me on this journey?