Charles H. Spurgeon on Psalms 50:5

(second clause). Made, or ratifying a covenant; literally, cutting, striking, perhaps in allusion to the practice of slaying and dividing victims as a religious rite, accompanying solemn compacts. (See Ge 15:10-18.) The same usage may be referred to in the following words, over sacrifice, i.e., standing over it: or on sacrifice, i.e., founding the engagement on a previous appeal to God. There is probably allusion to the great covenant transaction recorded in Ex 24:4-8. This reference to sacrifice shows clearly that what follows was not intended to discredit or repudiate that essential symbol of the typical or ceremonial system. J. A. Alexander.