Source : Webster's Revised Unabridged Dictionary (1913)

Ladyship \La"dy*ship\, n.
   The rank or position of a lady; -- given as a title (preceded
   by her or your).

         Your ladyship shall observe their gravity. --B. Jonson.

Source : WordNet®

Ladyship
     n : a title used to address any peeress except a duchess; "Your
         Ladyship"; "Her Ladyship"