The significance of the Magna Carta, signed in 1215, lies in its pivotal role in limiting the authority of the monarchy and establishing the principle that everyone, including the king, is subject to the law. This foundational document emerged from the conflict between King John of England and his barons, who sought to protect their rights and privileges from arbitrary royal power. The Magna Carta introduced concepts such as due process and the right to a fair trial, laying the groundwork for modern democracy and legal systems. Its enduring legacy is reflected in constitutional law and the notion of individual rights in governance.