Why the Magna Carta Matters Today, 800 Years After It Was Sealed

— -- Queen Elizabeth led celebrations today to commemorate the sealing of the Magna Carta 800 years ago in a field along the River Thames, with dignitaries from around the world, including from the U.S.

On June 15, 1215, King John of England consented to 40 of his barons’ demands for laws that would protect their rights and property. Although the signing of the document in Runnymede, England, failed to resolve the conflict between the King and his barons, its significance has lasted.

In the U.S, the Magna Carta is seen by many scholars, judges and legislators as a foundation to America’s Constitution and Bill of Rights.

“In this field [Runnymede] were born precepts that made possible the United States Constitution, the United Nation’s Universal Declaration of Human Rights, and the framework of justice in America, the United Kingdom, and much of the world,” the American Bar Association President William C. Hubbard said in a written statement today.

Nine of America's 27 amendments to the U.S. Constitution are traceable to the Magna Carta, most notably the concept of due process, which states that every citizen is subject to the same laws and judicial procedures.

In the U.K., only three clauses of the Magna Carta are still valid today: the one guaranteeing the liberties of the Church of England, the clause confirming the privileges of the City of London and other towns, and the clause that states that no free man shall be imprisoned without the lawful judgment of his equals.

The document's relevance matters more for what it has come to symbolize, according to Professor Justin Fisher, director of the Magna Carta Institute. It matters, "as a document of historical and legal significance," and "as a principle underlying how we live, through equality under the rule of law and through accountability," Fisher said.

“Today, we not only pay tribute to the source of our legal doctrine -- we reaffirm our devotion to its values and recommit ourselves to the service of its most treasured ideals,” said U.S. Attorney General Loretta Lynch, who also attended the ceremony in Runnymede.

Britain's prime minister earlier addressed the crowd, saying the Magna Carta had altered “forever the balance of power between the governed and government."

“What happened in this meadow 800 years ago is as relevant today as it was then," David Cameron said, adding: "It’s remaining copies may be faded but its principles shine brighter than ever.”

There are four known copies of the Magna Carta and all were granted U.N. World Heritage status in 2009. One of them, bought by the philanthropist David M. Rubenstein for $21.3 million, is a 1297 copy that can be seen by the public at the National Archives in Washington, D.C.