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1.1
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- Antonio explains to Solanio and Salerio that he feels sad without knowing why.
- Bassanio approaches Antonio and asks him for a loan so that he can afford to woo Portia. Antonio says that he does not have the cash handy, but that he is happy to use his credit to back Bassanio’s loan.
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1.2
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- At Belmont, Portia vents her frustration about being imprisoned to the riddle of the caskets and about her lame duck suitors.
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1.3
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- Shylock loans Bassanio 3000 ducats for three months, with Antonio as the guarantor.
- When Antonio arrives and insults Shylock, Shylock shifts the terms of their deal: he will offer Bassanio a loan without interest but, if not repaid within three months, he will be entitled to one pound of Antonio’s flesh.
- Antonio accepts, despite Bassanio’s nervousness.
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2.1
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- Morocco arrives at Belmont and agrees to try his hand at the riddle of the caskets.
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2.2
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- Launcelot Gobbo resolves to leave Shylock, and is promptly accepted into Bassanio’s service.
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2.3
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- As Launcelot prepares to leave, Jessica entrusts him with a secret letter for Lorenzo, laying out the plans for their elopement that night.
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2.4
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- Lorenzo receives Jessica’s letter, and plans with Gratiano, Salerio, and others to dress in costumes for a “masque” that will hide Lorenzo’s elopement with Jessica.
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2.5
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- Shylock leaves for dinner at Bassanio’s, telling Jessica to lock up the house carefully.
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2.6
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- Jessica steals a large sum of money and precious stones from her father and elopes with Lorenzo as planned.
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2.7
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- With the time having come, Morocco chooses the incorrect casket (gold). He leaves Belmont in defeat. Portia is glad.
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2.8
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- Salerio and Solanio, gossiping on the street in Venice about Jessica and Lorenzo, encounter Shylock. They mock his rage at Jessica’s elopement.
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2.9
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- Portia receives the Prince of Aragon. Like Morocco, he picks the wrong casket (silver, this time) and leaves in defeat.
- As Aragon is going, Bassanio arrives to woo Portia.
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3.1
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- Salerio and Solanio, gossiping on the street in Venice, encounter Shylock again. He confirms the rumors that they have heard: Antonio has lost his ships and is ruined, and defends his right to revenge on the grounds that Jew, like any other man, will respond when wronged.
- Shylock then meets with another Jew named Tubal who has searched for, and failed to find, Jessica.
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3.2
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- Back at Belmont, Portia and Bassanio have fallen in love. Bassanio correctly chooses the lead casket, winning her hand. Gratiano and Nerissa announce that they also will be married. Portia gives Bassanio a ring, making him promise that he will never lose or part with it. Nerissa does the same with Gratiano.
- Bassanio learns in a letter from Antonio that Antonio has lost everything and that Shylock plans to take his pound of flesh. Bassanio speeds back to Venice, with money from Portia to repay his debt and hopefully save Antonio.
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3.3
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- Shylock escorts Antonio to prison. Antonio is resigned to his fate.
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3.4
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- Portia comes up with the plan to travel to Venice, dressed up in costume as the lawyer Balthazar. Leaving Lorenzo and Jessica in charge of Belmont, she leaves with Nerissa, who will dress up as her clerk.
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3.5
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- Jessica and Lorenzo manage the household at Belmont, and banter with Launcelot.
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4.1
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- The Venetians watch Antonio’s trial. All, including the presiding Duke, are powerless to save him from Shylock’s revenge.
- Portia arrives, costumed as Balthazar, and spares Antonio with a cleverly literal reading of the contract: Shylock is entitled only to the pound of flesh and no blood.
- Portia also deprives Shylock of the 9000 ducats that Bassanio had previously offered him. She finds a clause in the law effectively condemning him to death, with his property to be divided equally between Antonio and the state of Venice.
- Antonio argues that the Venetians should spare Shylock’s life and allow him to retain one-half of his property, on the condition that he convert to Christianity. Antonio will accept the other half of his property.
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4.2
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- In thanks for this favorable decision, Bassanio gives Portia—whom he still takes for Balthazar, the lawyer—the ring which she gave to him in Act 3, breaking his promise. Nerissa, shocked that Bassanio has proven so weak, vows that she will trick Gratiano into giving her back her ring, as well.
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5.1
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- Lorenzo and Jessica enjoy an idyllic night at Belmont.
- Portia and Nerissa torment Bassanio and Gratiano for giving away their rings. Portia then explains everything that has happened. The couples are reconciled.
- News arrives that Antonio’s ships have returned safely. Portia informs Lorenzo and Jessica that they are poised to inherit all of Shylock’s wealth.
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