On grace

What do we define as 'grace'? I guess there is a general definition we all agree to, but other than that, we each have our vision of grace. Here's how one of my favorite poets sees it:

Grace means pardon, forgiveness, favour, benefice, inspiration; it is a form of address, a pleasing style of speaking or painting, a gesture expressing politeness, and, in short, an act that reveals spiritual goodness. Grace is gratuitous; it is a gift. The person who receives it, the favoured one, is grateful for it; if he is not base, he expresses gratitude.