How did magna carta place limits on the power of england's monarchy?

First, the Magna Carta is a charter signed by King John of England and Cardinal Stephen Langton on 1215.
This Charter created "The Rule of Law", which gave the law more power, since the King was putting people in Jail and condemning them, guilty or not. And it created the principle of no taxation, which means that the King can only tax people with the agreement of the Parliament, since the king was taxing the Church for no reason.

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