In many cases, 'True Story' is indeed drawn from actual happenings. The creators might take some artistic liberties, but the core elements are rooted in truth.
Yes, if it's labeled as a true story, it usually has some basis in real events. But there might be some creative liberties taken for entertainment or narrative purposes.
It depends on the specific work. Sometimes 'True Story' can be very closely tied to real events, while in other cases, it might just draw loose inspiration and not be a strict account of what actually occurred.
Yes, '1408' is based on a true story. The story was inspired by a Stephen King short story of the same name. It's about a man who stays in a supposedly haunted hotel room, Room 1408, and experiences terrifying and inexplicable events.