Final answer:
The statement is true. Feudalism in the Middle Ages involved lords granting land (fiefs) to vassals in exchange for military service and loyalty, creating a social order built upon hierarchical relationships and land-based power.
Step-by-step explanation:
Feudalism was indeed a social system in the Middle Ages that encompassed the aspects described in the student's question. This system was characterized by a series of reciprocal legal and military obligations among the warrior nobility, revolving around the three key concepts of lords, vassals, and fiefs. Under feudalism, a lord would grant a piece of land called a fief to a vassal in exchange for a pledge of loyalty and military service.
The vassal, in return, would enjoy the produce of the land and provide protection and other services to the lord. Feudalism was based on a hierarchical structure with the king at the top, then a series of nobles beneath him, all linked by vows of fealty and the granting of lands.
As time progressed, the social and economic framework of feudalism began to unravel with the rise of the merchant class and events like the Black Death, ultimately leading to its replacement by capitalism and the structures of the Industrial Society.