The primary components of the feudal system that existed in Medieval Europe included a hierarchical structure characterized by land ownership and a system of obligations among various social classes. At the top were monarchs who owned vast lands, followed by nobles and lords who received large estates in exchange for military service. Below them were vassals who worked the land in return for protection. Peasants and serfs formed the base of this hierarchy, working the lands in exchange for security and a place to live. This system created interdependent relationships that defined medieval society.