(1) Antonio complains about his overdue ships. (2) Portia with Nerissa worries about her suitors, thinks about Bassanio instead. (3) Bassanio goes to Shylock with Lorenzo to borrow a loan, and gets it on behalf of the agreement that Shylock gets a pound of flesh if not paid.
(1) Jessica and Launcelot leave with Lorenzo and Bassanio, setting sail for Belmont. (2) The Prince of Morocco and the Prince of Aragon both choose wrong caskets, and Portia is enlightened with the news Bassanio has arrived.
(1) Bassanio chooses the right casket, he and Portia are overjoyed. (2) Antonio receives news that his ships are lost at sea; adding to this, Shylock has had him arrested.
(1) Portia, in the disguise of Balthazar who is a lawyer, saves Antonio by saying Shylock is entitled to flesh and not blood. (2) Shylock forfeits his goods due to threatening the life of Antonio. He also has to turn Christian. (3) Bassanio and Graziano unwillingly give the rings as payment.
(1) Portia and Nerissa return home to Belmont at night, and scold their husbands when they arrive, but soon make up. (2) Antonio receives news of his ships arriving back, and he is joyed.