What did the term "Feudalism" refer to in medieval Europe?

The term "Feudalism" in medieval Europe refers to a decentralized system of land exchange for loyalty. This system arose after the fall of the Western Roman Empire, as political stability diminished and local rulers gained power. In this structure, landholders (lords) granted portions of their land (fiefs) to vassals in exchange for military service and loyalty. Vassals could be knights or lesser nobles who pledged their allegiance to the lord, creating a hierarchical network of obligation and protection.

The concept of feudalism revolved around the relationships and duties between these different classes, emphasizing the importance of personal loyalty and service over centralized governance or economic systems. This arrangement allowed local lords to maintain control and defend their territories without a strong central authority, making it a defining characteristic of medieval society.

The other options do not accurately describe feudalism; for instance, a centralized government structure does not reflect the fragmented nature of feudal societies. Similarly, the notion that peasants owned the land is misleading, as in most cases, peasants (serfs) worked the land in service to their lords and had limited rights. Lastly, while trade occurred during this period, feudalism itself was distinct from a monetary trade system, focusing more