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Chivalry, or the chivalric code, is a code of conduct associated with the medieval institution of knighthood which developed between 1170 and 1220. Chivalry is how knights were supposed to treat others and kill each other. The idea of it being used to protect women is because the code states that a knight must fight to the death anyone who insults his lady. In a way, it is treating women like they can't handle themselves but it also makes it so men are obligated to go out of their way to keep women safe and cared for.
It could be seen as sexist because women don't have to reciprocate the favor towards men but in the knights code the maiden had to replace the knight is he died in battle. Chivalry was actually rather egalitarian for its time.
tl;dr Kinda but it was how I was raised and I don't plan on changing anytime soon. :)0