The correct answer is true.
It is true that the Magna Carta was a document signed by King John of England in 1215 which limited the power of the king, promised the right to a fair trial, and backed the idea of no taxation without representation.
Trying to eliminate the possibility that the English Nobility could rebel against the monarchy, King James signed the Magna Carta or "The Great Charter" in 1215. The Magna Carta clearly stated that everybody was accountable under the law, including the King of England. It had 63 clauses and it has remained an important document for the British government.