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Feudalism is based upon the ownership of land. The owners of the land are called nobles. They have priviligeges and are considered as the ruling class. The persons who got land from the king are called vassals, they can give some of their land to other people (loyal to them) and he becomes a lord and the persons presented the land become his vassals. So, the noble class forms the vassalage - a chain of landowners. They do not pay taxes but owe their lords military service. Of course, they do not work on land: the serfs do. But the serfs do not own the land but use it.

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