The Magna Carta was signed in the year 1215. It was a landmark document in English history that established the principle that everyone, including the king, was subject to the law. The Magna Carta was created in response to the grievances against King John of England, particularly concerning his heavy taxation and arbitrary governance. By agreeing to this charter, the barons forced the king to recognize certain rights, leading to the foundation of constitutional law and influencing the development of democracy. It is considered a crucial step towards limiting the power of rulers and enhancing individual liberties.