The Lord's Supper
This name comes from 1 Corinthians 11:20. There, the Apostle calls this ordinance the Lord's Supper. This indicates that this is a special supper, set aside from regular ones because the Lord Christ claims it as His own and as is usual in the ancient world, a supper with someone was not a parallel to eating something with a stranger at McDonald's. But dining with someone included communion with that person, therefore, the Lord's Supper is a supper of close communion with the Lord Who redeemed us and invites us to His table.
The TABLE OF THE LORD
Instead of going to the pagan tables of the false gods and offering their sacrifices there, the Christians are invited to the Lord's Table (1Cor. 10:21). Eating at this table indicates close communion with Christ. Paul says, if you're going to the table of false gods, you are participating and communing with demons. Therefore, when one goes to the table of the true and only Lord, they are communing and participating with the true God. This table is holy because the Lord claims it as His own for His communion with His people. In this connection, we may call the Lord's Supper, Communion, because in partaking of it, the faithful have a real and spiritual communion with their Savior as He administers grace to them.
The Breaking Of Bread
This is the first designation of the Lord's Supper in the New Testament. It is used in Luke 24:35; Acts 2:42, 46; 20:7, 11; 1 Corinthians 10:16-17. The early Christians were continually celebrating the Lord's Supper in the manner which their Lord did. As Christ took bread and broke it, so the Christians called this ordinance the breaking of bread, which reminded them of Christ's body given for them. Notice that in Acts 20:7, the purpose of the Church gathering on the Lord's Day, is to break bread. They were gathered on the Christian Sabbath, as a Church, to celebrate the Lord's Supper.
Eucharist means thanksgiving and refers to the words of Christ in Luke 22:19 before breaking and distributing the bread to His disciples. The Greek verb for giving thanks is εὐχαριστήσας (eucharistēsas). There is no doubt that thanksgiving should play a fundamental part as we celebrate the Lord's Supper, thinking of the work of Christ and receiving the benefits thereof anew in a spiritual and close communion with our Savior. But unfortunately, this name is closely associated with the abominable sacrifice of the Mass, therefore, it is not used by Protestants.
There are several things which are signified by the Lord's Supper. The Lord's Supper is not a dead ritual, but a sign and a token, which signifies and grants grace to those who already believe (see Means Of Grace below). Here are the things which the Lord's Supper signifies.
The Lord's Death
The most obvious thing that the Lord's Supper signifies is the Lord's sacrificial death on behalf of His people. His body was broken and His blood was shed for His people so as to redeemed them from sin. The Lord's Supper reminds the Christian of the pivotal event of history when our Lord died on that cross to take away our sin and bear in Himself the punishment thereof. Therefore, whenever we celebrate the Lord's Supper, we are reminded of the work of Christ on behalf of His people in His vicarious death on the cross. As we are reminded of that work we are also receiving new graces and apprec...