Question

Summary of act 1 scene 3 merchant of venice

Answer 1

Bassanio seeks out Shylock, a Jewish moneylender, for a loan of three thousand ducats on the strength of Antonio's credit. Shylock is hesitant about lending Bassanio the money. He knows for a fact that Antonio is a rich man, but he also knows that all of Antonio's money is invested in his merchant fleet. At the present time, Antonio's ships are bound for distant places, and therefore vulnerable to many perils at sea. Yet he says finally, "I think I may take his bond." He refuses Bassanio's invitation to dinner, however; he will do business with Christians, but it is against his principles to eat with them.

When Antonio suddenly appears, Shylock (in an aside) expresses contempt for him, saying that he hates Antonio because he is a Christian, but more important, he hates Antonio because Antonio lends money to people without charging interest; moreover, Antonio publicly condemns Shylock for charging excessive interest in his moneylending business. Finally, though, Shylock agrees to lend Bassanio the three thousand ducats. Antonio then says that he — as a rule — never lends nor borrows money by taking or giving interest. Yet because of his friend Bassanio's pressing need, Antonio is willing to break this rule. The term of the loan will be for three months, and Antonio will give his bond as security.

While Bassanio and Antonio are waiting to learn the rate of interest which Shylock will charge for the loan, Shylock digresses. He tells them about the biblical story of how Jacob increased his herd of sheep. He calculates the interest which he will charge and announces: "Three months from twelve; then, let me see; the rate." Shylock then accuses Antonio of having repeatedly spit upon him and called him a dog. And now Antonio and Bassanio come asking him for money. Yet they pride themselves that Antonio is a virtuous man because he lends money to friends, with no interest involved. Is this loan, Shylock inquires, a loan to be arranged among "friends"? On the contrary; this is not to be regarded as a loan between friends, Antonio asserts. In fact, Antonio says, Shylock may regard it as a loan to an enemy if he wishes. Then, surprisingly, Shylock says that he wants Antonio's friendship, and to prove it, he will advance the loan without charging a penny of interest. But in order to make this transaction "a merry sport," Shylock wants a penalty clause providing that if Antonio fails to repay the loan within the specified time, Shylock will have the right to cut a "pound of flesh" from any part of Antonio's body. Bassanio objects to his friend's placing himself in such danger for his sake, but Antonio assures him that long before the loan is due that some of his ships will return from abroad and that he will be able to repay the loan three times over. Shylock insists, at this point, that the penalty is merely a jest. He could gain nothing by exacting the forfeit of a pound of human flesh, which is not even as valuable as mutton or beef. The contract is agreed to, and despite Bassanio's misgivings, Antonio consents to Shylock's terms.

Answer 2

$\textsf{\large\bf Summary of Act I Scene III}$

   $\textsf{This scene is crucial as an exposition of the character of Shylock, the most powerful}\\\textsf{and dramatic figure in the play. Bassanio approaches Shylock for a loan against}\\\textsf{Antonio's credit. Shylock hesitates, and cannot help but recall all the insults that}\\\textsf{he had to bear on account of Antonio.}$

   $\textsf{But realizing the opportunity in the situation, he agrees to lend money to Antonio}\\\textsf{on a 'merry bond', which if forfeited, would allow Shylock to cut a pound of}\\\textsf{flesh from nearest his heart. Bassanio is nervous about such a bond, but Antonio,}\\\textsf{confident of his ship's return, agrees. It is around this bond that the action of the}\\\textsf{play revolves.}$