MERCHANT OF VENICE SUMMARY

Antonio, a Venetian merchant, complains to his friends of a melancholy that he cannot explain. His
friend Bassanio is desperately in need of money to court Portia, a wealthy heiress who lives in the city of
Belmont. Bassanio asks Antonio for a loan in order to travel in style to Portia’s estate. Antonio agrees,
but is unable to make the loan himself because his own money is all invested in a number of trade ships
that are still at sea. Antonio suggests that Bassanio secure the loan from one of the city’s moneylenders
and name Antonio as the loan’s guarantor. In Belmont, Portia expresses sadness over the terms of her
father’s will, which stipulates that she must marry the man who correctly chooses one of three caskets.
None of Portia’s current suitors are to her liking, and she and her lady-in-waiting, Nerissa, fondly
remember a visit paid some time before by Bassanio.

In Venice, Antonio and Bassanio approach Shylock, a Jewish moneylender, for a loan. Shylock nurses a
long-standing grudge against Antonio, who has made a habit of berating Shylock and other Jews for
their usury, the practice of loaning money at exorbitant rates of interest, and who undermines their
business by offering interest-free loans. Although Antonio refuses to apologize for his behavior, Shylock
acts agreeably and offers to lend Bassanio three thousand ducats with no interest. Shylock adds,
however, that should the loan go unpaid, Shylock will be entitled to a pound of Antonio’s own flesh.
Despite Bassanio’s warnings, Antonio agrees. In Shylock’s own household, his servant Launcelot decides
to leave Shylock’s service to work for Bassanio, and Shylock’s daughter Jessica schemes to elope with
Antonio’s friend Lorenzo. That night, the streets of Venice fill up with revelers, and Jessica escapes with
Lorenzo by dressing as his page. After a night of celebration, Bassanio and his friend Gratiano leave for
Belmont, where Bassanio intends to win Portia’s hand.

In Belmont, Portia welcomes the prince of Morocco, who has come in an attempt to choose the right
casket to marry her. The prince studies the inscriptions on the three caskets and chooses the gold one,
which proves to be an incorrect choice. In Venice, Shylock is furious to find that his daughter has run
away, but rejoices in the fact that Antonio’s ships are rumored to have been wrecked and that he will
soon be able to claim his debt. In Belmont, the prince of Arragon also visits Portia. He, too, studies the
caskets carefully, but he picks the silver one, which is also incorrect. Bassanio arrives at Portia’s estate,
and they declare their love for one another. Despite Portia’s request that he wait before choosing,
Bassanio immediately picks the correct casket, which is made of lead. He and Portia rejoice, and
Gratiano confesses that he has fallen in love with Nerissa. The couples decide on a double wedding.
Portia gives Bassanio a ring as a token of love, and makes him swear that under no circumstances will he
part with it. They are joined, unexpectedly, by Lorenzo and Jessica. The celebration, however, is cut
short by the news that Antonio has indeed lost his ships, and that he has forfeited his bond to Shylock.
Bassanio and Gratiano immediately travel to Venice to try and save Antonio’s life. After they leave,
Portia tells Nerissa that they will go to Venice disguised as men.
Shylock ignores the many pleas to spare Antonio’s life, and a trial is called to decide the matter. The
duke of Venice, who presides over the trial, announces that he has sent for a legal expert, who turns out
to be Portia disguised as a young man of law. Portia asks Shylock to show mercy, but he remains
inflexible and insists the pound of flesh is rightfully his. Bassanio offers Shylock twice the money due
him, but Shylock insists on collecting the bond as it is written. Portia examines the contract and, finding
it legally binding, declares that Shylock is entitled to the merchant’s flesh. Shylock ecstatically praises her
wisdom, but as he is on the verge of collecting his due, Portia reminds him that he must do so without
causing Antonio to bleed, as the contract does not entitle him to any blood. Trapped by this logic,
Shylock hastily agrees to take Bassanio’s money instead, but Portia insists that Shylock take his bond as
written, or nothing at all. Portia informs Shylock that he is guilty of conspiring against the life of a
Venetian citizen, which means he must turn over half of his property to the state and the other half to
Antonio. The duke spares Shylock’s life and takes a fine instead of Shylock’s property. Antonio also
forgoes his half of Shylock’s wealth on two conditions: first, Shylock must convert to Christianity, and
second, he must will the entirety of his estate to Lorenzo and Jessica upon his death. Shylock agrees and
takes his leave.

Bassanio, who does not see through Portia’s disguise, showers the young law clerk with thanks, and is
eventually pressured into giving Portia the ring with which he promised never to part. Gratiano gives
Nerissa, who is disguised as Portia’s clerk, his ring. The two women return to Belmont, where they find
Lorenzo and Jessica declaring their love to each other under the moonlight. When Bassanio and
Gratiano arrive the next day, their wives accuse them of faithlessly giving their rings to other women.
Before the deception goes too far, however, Portia reveals that she was, in fact, the law clerk, and both
she and Nerissa reconcile with their husbands. Lorenzo and Jessica are pleased to learn of their
inheritance from Shylock, and the joyful news arrives that Antonio’s ships have in fact made it back
safely. The group celebrates its good fortune.