This statement is true. This case did establish a very important precedent in the American legal system. Before this case, it was not at all clear as to who would have the power to interpret the Constitution. It was not clear whether the courts would get to decide what the Constitution meant. In this case, the Court took that power. They took the power of judicial review, which is the power to strike down laws made by Congress if those laws violate the Constitution. This is one of the most important precedents in US legal history.