He can't keep doing this to us. We need to make something... A document that he must sign- or else we will no longer work for him
Feudalism is the economic and political system that was developed in Europe during the middle ages. One of the causes for the decline of feudalism was the Magna Carta.
Sign this, or we will no longer work for you.
King John was low on money, so he demanded his lords to give him money by collecting his taxes after he taxed everyone.
May you please collect my taxes if I tax the people?
Peter and the other lords decided that the king shouldn't be able to bark commands to give him money anymore and tax the people whenever he wanted. So, they create the Magna Carta. A legal document that protected the lord's rights.
Peter and the lords bring the Magna Carta to King John. He agrees and signs it, which is basically decreasing his power.
Peter and the lords noticed a difference in King John's way of asking for money. The Magna Carta worked. He was no longer able to tax whenever he wanted. So, the King limits his power.
In the long run, everyone obtained and maintained power. Everyone had rights and privileges. They maintained it because it was the law. So, no matter what, everyone had to follow it, including the king.