The answer is A. The stanza says "legal judgement of his peers or by the law of the land."
The quote from the Magna Carta is saying that no freeman will be thrown in jail, banned, exiled, and/or put to harm in any way, shape, or form, unless proven guilty by jury. If proven guilty, their punishment shall be determined by the law that was broken.
For example,
If you were to rob someone and the jury decided you're guilty, you'd be placed in jail for 5 years And your bail could cost from $5,000 dollars up to $15,00 dollars.