Feudalism was a set of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries, which, broadly defined, was a system for structuring society around relationships derived from the holding of land in exchange for service or labour.
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Manorialism was characterized by the vesting of legal and economic power in a Lord of the Manor, supported economically from his own direct landholding in a manor (sometimes called a fief), and from the obligatory contributions of a legally subject part of the peasant population under the jurisdiction of himself and his manorial court. These obligations could be payable in several ways, in labor (the French term corvée is conventionally applied), in kind, or, on rare occasions, in coin.
http://en.wikipedia.org/wiki/Manorialism