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What does feudalism mean?

Looking for the meaning or definition of the word feudalism? Here's what it means.

Noun
  1. A social system based on personal ownership of resources and personal fealty between a suzerain (lord) and a vassal (subject). Defining characteristics are direct ownership of resources, personal loyalty, and a hierarchical social structure reinforced by religion.
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There were also refinements, if not the introduction, of the system of landholding and social relations known as feudalism.
The revolution had overthrown the brutal domination of feudalism and ended crown monopolies over trade.
Societies became marked, first, by feudalism, in which control was exercised through the nobility.
Under the feudalism of medieval Europe, for example, the peasants worked while the lords ruled and were free from the burden of work.
What mattered about 1066 was that it brought both Norman kingship and French feudalism into England.
This development of commercial capitalism in the early C17th makes a link with Medieval feudalism untenable.

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