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Note:  Do not rely on this information. It is very old.

Banneret

Banneret. The degree of Knight-Banneret, though dating certainly from the reign of King Edward I., is now fallen into disuse, and has been so for some time past. The honour, which was most highly esteemed, was conferred on persons especially distinguished for their bravery and gallantry in action, by the king in person, at the head of the army drawn up in battle array beneath the royal banner displayed, in the presence of all the officers and nobility of the Court, on the occasion of a glorious victory. A knight-banneret took precedence of all baronets (except when not created by the Sovereign in person), and was allowed the privilege of using supporters with his armorial bearings.