The Duke then leaves the Court and tells Antonio to reward Portia since it was she who saved his life. Bassanio offered to reward her with the money intended to free Antonio. She declines this gift and asks instead for the ring that she herself gave him as a love-token. At first, Bassanio effuses, remembering that his wife demanded that he keep it always. After she departs, even Antonio asks him to give it to her as a gift. Finally, he is worn down and sends Gratiano after Portia to present her with the ring. Then the men go to Antonio's house for dinner, planning to depart for Belmont in the morning. Meanwhile, Portia sends Nerissa to Shylock's house, to ensure that he signs the deed that will leave his fortune to Lorenzo and Jessica. The disguised women plan to leave that night, to arrive in Belmont before their husbands. They are joined suddenly by Gratiano, who gives Portia the ring and says that Bassanio invites her to dinner. Portia accepts the gift but declines the invitation.
Lorenzo greets Portia and Nerissa, and she requests that he cannot mention her absence to her husband. Bassanio, Antonio, and Gratiano arrive. Antonio is introduced to Portia, and Nerissa asks Gratiano what became of her ring. He insists that he gave it to a lawyer's clerk, not to another woman as she supposes. Portia criticizes him for parting with so precious a present, saying that her own husband would never have given up his ring. Gratiano replies that Bassanio did give up his ring, to the lawyer who saved Antonio.
The women now accuse their husbands of cheating on them. Although Bassanio and Gratiano continue to insist that they gave the rings to men, Portia and Nerissa pretend to disbelieve them, and threaten to commit adultery themselves. Antonio intercedes for them, and Portia and Nerissa give their husbands rings--the same rings that were given away to the "lawyer" and the "clerk." The men are astonished, and now Portia reveals the deception--she was the lawyer in Venice. Antonio receives news that some of his ships have, miraculously, come safely to port, and Lorenzo is told that he will inherit Shylock's fortune.