In court at Venice, Shylock demands that the terms of his bond be fulfilled. Portia enters as a doctor of laws, with a letter of introduction from Dr. Bellario. She saves Antonio by determining that the bond allows Shylock no more than a pound of Antonio’s flesh and not a drop of his blood. She also finds Shylock guilty of plotting the death of a Venetian and subject to the penalty of forfeiting his estate and suffering execution. Antonio intercedes with the Duke to reduce the penalty. A defeated Shylock agrees to the proposed terms.
Bassanio offers the disguised Portia the three thousand ducats that he brought to give to Shylock, but Portia demands the ring that she herself gave Bassanio. When he refuses, she departs as if insulted. When Antonio asks Bassanio to give the ring, Bassanio sends Gratiano after her with it.