In John 1:17, the Greek text according to the Textus Receptus (Estienne, 1550) states,
ὅτι ὁ νόμος διὰ Μωσέως ἐδόθη ἡ χάρις καὶ ἡ ἀλήθεια διὰ Ἰησοῦ Χριστοῦ ἐγένετο
which is translated as,
since the Law was given by Moses; grace and truth came by Jesus Christ.
It would seem as though the author is contrasting the Law with grace and truth and suggesting that the Law was void of grace and truth. But, this would contradict other scripture which explicitly states, "Your Law is truth."1 And yet, while scripture does say the Law is truth, it never states that the Law is grace.
In fact, the apostle Paul clearly contrasted the Law with grace when he wrote (Rom. 6:14),
For sin shall not be master over you, for you are not under the Law, but under grace.
ἁμαρτία γὰρ ὑμῶν οὐ κυριεύσει οὐ γάρ ἐστε ὑπὸ νόμον ἀλλ᾽ ὑπὸ χάριν
If indeed there was grace in the Law, how could the apostle Paul write so?
Furthermore, the apostle Paul wrote (Rom. 11:6),
And if by grace, then is it no longer of works, otherwise grace is no longer grace. But if it is of works, then is it no longer grace, otherwise work is no longer work.
εἰ δὲ χάριτι οὐκέτι ἐξ ἔργων ἐπεὶ ἡ χάρις οὐκέτι γίνεται χάρις εἰ δὲ ἐξ ἔργων οὐκέτι ἐστὶν χάρις ἐπεὶ τὸ ἔργον οὐκέτι ἐστίν ἔργον
By the phrase "of works" (ἐξ ἔργων), the apostle Paul is clearly alluding to keeping the commandments of the Law of Moses, i.e. the "works of the Law."2
Therefore, it would suggest that, while the Law is truth, the Law was not grace, or rather, it lacked grace. After all, if one failed at keeping just one commandment of the Torah, they merited the curse of the Law (Gal. 3:10). How then could there be grace in the Law? Nay; rather, the Law works wrath (Rom. 4:15).
In summary, the Law given by Moses is truth, but not grace. Grace and truth, together, came by Jesus Christ.
1 Psa. 119:142 LXX (118:142): ὁ νόμος σου ἀλήθεια.
2 Rom. 9:32; Gal. 2:16, 3:2, 3:5, 3:10