It has been referred to as a Manx Magna Carta as its aim was to preserve the rights of the peasants in relation to their Lord.
An ordinance in 1582 stated that lands were not to be alienated (bought and sold, or left in wills) except by the Lord's license, which came with a fine.
This situation was not popular among tenants who found themselves losing rights they had previously considered their own.
This situation could not continue and in 1703 Bishop Wilson travelled to speak with the Earl on behalf of the tenants with a view to settling the issue.
The Act was re-enacted in 1777 after revestment, and is today considered the foundation of the Island's constitution.