This is a simplistic article. It is not intended to be "academic" but merely an explanation for those new to these matters or uncertain. It may help writers of fiction, for example.
In the earlier Middle Ages the principal nobles were the earls. There was no one with a higher title, except for the king himself.
Everyone else who held land directly from the king was a "baron". in the sense of "King John's barons". It didn't matter if you held one manor or ninety-nine you were a baron. However, obviously, the ones with larger amounts of property tended to be more influential.
At this point I should mention there were such creatures as "barons of Glamorgan" or "barons of the earldom of Chester". These were men who held land from the magnate who owned the lordship in question - but they were not necessarily of national importance.
When kings started to summon parliaments, the most important men received an individual summons. This included all earls (if of age) but only selected barons. The king, or his officers, did the selecting. After a time, the selections became largely automatic. Sir Boris was called every time. So was his son, Sir John, when he inherited. These men were barons in the modern sense, members of the "House of Lords".
Just to make it confusing, some top grade knights (bannerets) also received individual summons. But these summons did not become hereditary - and not all bannerets received them!
The system took a while to evolve. For a long time the only way to become a (parliamentary) baron was to receive an hereditary summons to Parliament. The first barony conferred by Letters Patent was in 1387, when Sir John Beauchamp was made Lord Beauchamp of Kidderminster by Richard II. Rapidly thereafter creation by Letters Patent became the norm, as did the practice of restricting the honour to heirs male.
During the late 14th and the 15th century the peerage developed into a more modern form. New ranks, viscount and marquess, were added. (Dukedoms, a sort of super-earldom, originally restricted to the king's close relatives, originated in the early 14th century.) Creation was almost, if not entirely, by Letters Patent.
However, even in the mid-15th century, it is not uncommon to find the same man called "Sir John Audley" in one document, and "John, Lord Audley" in another. A certain fluidity remained...
As the 15th century progressed, and even more so in Tudor times, the peerage became more of a sealed and separated caste, clearly distinct from those who were not peers.
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