The significance of the Magna Carta in the development of democratic governance lies in its establishment of the principle that everyone, including the monarch, is subject to the law. Signed in 1215 by King John of England, the Magna Carta delineated specific rights for the barons and curtailed the king's arbitrary power. Over time, it influenced the development of constitutional law and representative government. Its provisions inspired concepts such as due process, trial by jury, and the protection of individual liberties, contributing to the evolution of democratic ideals in England and eventually influencing political systems around the world.