The term 'LADY OR LORD' is a TITLE given to someone of high social standing, usually in the British nobility. It is a gender-neutral TITLE, meaning it can be used for either a man or a woman. The TITLE is usually given to someone who has inherited their position, such as a duke, marquess, earl, viscount, baron, or baroness. This TITLE is often used to refer to members of the royal family, such as the Queen or Prince.