The Magna Carta was issued in 1215 to limit the power of King John of England and protect citizens from unjust laws and punishments. It established that everyone, including the king, was subject to the rule of law. It guaranteed rights such as due process and required that taxes and punishments be fair and in accordance with traditional law. Over time, it came to represent the fundamental principle that no one is above the law, including the monarch. It influenced the development of constitutional law around the world.