A lady is nothing very specific. One man's lady is another man's woman; sometimes, one man's lady is another man's wife. Definitions overlap but they almost never coincide.
The only gracious way to accept an insult is to ignore it; if you can't ignore it, top it; if you can't top it, laugh at it; if you can't laugh at it, it's probably deserved.
The art of acceptance is the art of making someone who has just done you a small favor wish that he might have done you a greater one.