The Magna Carta, signed in 1215, is significant as it laid the foundation for modern democracy and the rule of law. This charter was a result of the conflict between King John of England and a group of rebelling barons who sought to limit the king's absolute power. By signing the Magna Carta, King John agreed to certain legal rights for his subjects, including the principle of due process and the protection from arbitrary imprisonment. This document influenced constitutional law and inspired future human rights documents, embodying the idea that everyone, including the monarch, is subject to the law.