The significance of the Magna Carta, signed in 1215, lies in its role as a foundational document for limiting monarchical power and establishing the principle of the rule of law. Originally crafted to address the grievances of rebellious barons against King John of England, it asserted that the king was not above the law and guaranteed certain legal rights to individuals. This included the right to a fair trial and protection from unlawful imprisonment. The Magna Carta has been celebrated as a cornerstone of constitutional governance and human rights, influencing democratic principles and many legal systems worldwide in subsequent centuries.