Legend is a Final Fight-style beat-em-up with a Medieval European setting. The game was created solely by the duo of Carlo Perconti and Lyes Belaidouni, who both went on to found Toka. Toka later created a remake of the game for the Sony Playstation which was also called Legend.
Beldor the Maleficent reigned as a despot over the kingdom of Sellech for one thousand years. All was chaos and destruction. Many knights went on a final crusade to destroy Beldor but none returned. The people united, built energized heroes and imprisoned Beldor's soul. Now, Clovis, corrupt son of the King of Sellech, wants to harness Beldor's power and conquer the kingdom.
The overall style and gameplay are extremely similar to that of the SNES game Iron Commando, also created by Arcade Zone. Both games also use the same sound effects.
Source: Wikipedia, "Legend (1994 video game)", available under the CC-BY-SA License.