This is the last scene of the play and the tension has dropped after the chaos of the trial. The scene is back in Belmont, which was far removed from the chaos of Venice and Lorenzo and Jessica are awaiting the return of Bassanio from Venice and Portia from the monastery.
Portia and Nerissa are the first to return and they tell the others to keep their absence a secret from their husbands.
Bassanio, Gratiano and Antonio arrive in Belmont shortly after and Bassanio introduces Antonio to Portia, who is completely unaware that it was Portia that saved his life. (Dramatic Irony)
Nerissa and Portia both have some fun with their husbands, as Nerissa chastises Gratiano for losing the ring, which she gave him. Portia says that Gratiano was very careless in losing the ring and that she gave her husband a ring, that he swore never to give away. Bassanio panics at this point and says quickly in an aside, “why, I were best to cut my left hand off/ And swear I lost the ring defending it.”
Gratiano tells them they both gave their rings away to the judge and his clerk. Portia tells him that she will never come into his bed again until he gets the ring back. Bassanio pleads with Portia and tells her that if she knew who he gave the ring to and the circumstances surrounding it, she would not be mad. Portia, playing with her husband, accuses him of giving it to another woman. Bassanio swears that it was the young doctor who took the ring and Portia says that if she ever sees this doctor, she will sleep with the doctor and Nerissa says that she will do the same with the clerk.
Antonio tries to interject and offers to pledge his life that Bassanio will never break a promise again. Portia hands Antonio a ring and tells him that he needs to look after it better than the last one. Bassanio when he sees the ring realises that it is the same as the one he gave the doctor. Portia tells him that she got it off him, after she slept with him and Nerissa tells Gratiano that she too got the ring back by sleeping with the clerk. Gratiano is appalled but before he can go too far, Portia produces a letter from Bellario in Padua that shows that the doctor was Portia and Nerissa her clerk. It has more good news as some of Antonio’s ships have come ashore and his riches are safe.
The men are dumbfounded as Portia hands out more good news, as she has a letter for Lorenzo and Jessica showing them that they are entitled to all of Shylock’s possessions when he dies. The play ends on a positive note and they are all happy. (Except for Shylock, who has lost everything.)
Enda's English Notes 