What are the characteristics of feudalism?

• It is based on land ownership. 
• Land is vested on the king or monarch or
  superior. 
• The serfs (tenants) pay their overlord’s
  annual tributes in money or kind. 
• The overlords are duty bound to protect
  the serfs.  
• Feudal tenants give military services to
  the overload.
• Only a vessel of the lord can receive
  land.
• It is characterised by close personal bond
  between the lords
  and serfs.  
• Vessels keep the land as long as he
  performs his feudal duties e.g :
  payment of tribute, military services.
• The
  land goes back to the lord when the vessel dies without
  an heir.
• The monarch is the law-maker, judge
  and   commander over his vessels