Final answer:
The term 'Your lordship' in the given statement refers to the person being spoken to, not the speaker or someone else.
Step-by-step explanation:
In the statement 'Your lordship speaks most infallibly of him', the term 'Your lordship' refers to the person being spoken to. This is because the phrase is addressing 'Your lordship' and making a statement about that individual's speech, indicating that the speaker believes the person addressed has an infallible understanding or opinion of the third party mentioned (him).
The phrase does not refer to the speaker themself or to someone else not present in the conversation.