A theological position that holds:
1- People are partially depraved and can still perform one act (faith in Christ) of their own free will that is pleasing to God.
2- People are elected unto salvation on the condition that they posess saving faith.
3- Christ's death payed the penalty for the sins of every individual of mankind.
4- Individuals with the capacity to freely choose either saving faith or rejection of God (such capacity being the result of prevenient Grace), may in the end decide to damn themselves by not having faith, thereby rejecting God's gracious influence, and thus God's offer of mercy in Christ's sacrifice.
5- A person who has saving faith may forfeit his salvation by rejecting God and Christ's work at a later point in time.
The Armani race contains many famous members: Cornelius Van Swill, Greg Bonehead, Eggbert Mahler Jr., Yaacov R Blanche, Purr Locs, and of course, Dr. James R. Minivan of Alfalfa and Ortega Miniseries, who invented the whole concept in the first place.