For as often as ye eat this bread, and drink this cup, ye do shew forth the Lord's death till he come. 1 Corinthians 11:26.
In instituting the sacramental service to take the place of the Passover, Christ left for His church a memorial of His great sacrifice for man. “This do,” He said, “in remembrance of me.” This was the point of transition between two economies and their two great festivals. The one was to close forever; the other, which He had just established, was to take its place, and to continue through all time as the memorial of His death....
In this last act of Christ in partaking with His disciples of the bread and wine, He pledged Himself to them as their Redeemer by a new covenant, in which it was written and sealed that upon all who will receive Christ by faith will be bestowed all the blessings that heaven can supply, both in this life and in the future immortal life. This covenant deed was to be ratified by Christ's own blood, which it had been the office of the old sacrificial offerings to keep before the minds of His chosen people. Christ designed that this supper should be often commemorated in order to bring to our remembrance His sacrifice in giving His life for the remission of the sins of all who will believe on Him and receive Him.70Evangelism, 273-276.
Jesus refused to receive the homage of His people until He had the assurance that His sacrifice was accepted by the Father. He ascended to the Heavenly courts, and from God Himself heard the assurance that His atonement for the sins of men had been ample, that through His blood all might gain eternal life. The Father ratified the covenant made with Christ, that He would receive repentant and obedient men, and would love them even as He loves His Son. Christ was to complete His work, and fulfill His pledge to “make a man more precious than fine gold; even a man than the golden wedge of Ophir” (Isaiah 13:12).72The Desire of Ages, 790.
From God's Amazing Grace - Page 152