Event: It is an agreement that solved the conflict between King John and his men over taxes and disputes with the Pope. It is recognized as a cornerstone of the idea of the liberty of citizens.
The content of the Magna Carta was designed to re-balance power between the King and his subjects, especially between King John and the barons. The King conceded the fundamental principle that even as king, he was not above the law. The Magna Carta limits the power of rulers, and introduces the idea of lawful process and the idea of a jury. This simply means the kings would not have as much power as before.
Impact: The Magna Carta led to the constitutional rule of today and also influenced the American Constitution and to the Bill of Rights. Individual rights and freedom is introduced to citizens and prevents unlawful acts.