The significance of the Magna Carta, signed in 1215, lies in its role in limiting the power of the monarchy and establishing the principle that no one, not even the king, is above the law. It emerged from conflicts between King John of England and his barons, who sought to safeguard their rights. The charter enforced concepts such as due process and the right to a fair trial, which have evolved into fundamental legal principles today. The Magna Carta laid the groundwork for parliamentary democracy and influenced various constitutional developments worldwide, symbolizing the fight against arbitrary authority and the promotion of individual liberties.