Her speech is lost on Shylock. He "crave[s] the law" and "the penalty and forfeit of [his] bond." He does not care that Bassanio has offered him "thrice the sum" of the bond or even "ten times o'er"; Shylock demands the penalty. Portia pronounces that Venetian law is indeed binding, and whenever decrees are established, alterations set a precedent and "many an error" has been the result. Thus, Antonio's bond is legal, and Shylock can collect the pound of flesh.
Shylock hails the wisdom of this young judge, calling him "noble," "excellent," "wise and upright." He then produces the scales on which he will weigh the flesh, but he balks at Portia's suggestion that he himself personally pay a physician to attend Antonio to see that he does not bleed to death. A judgment is a judgment, and nothing in Antonio's bond mentioned Shylock's hiring a physician. Antonio then turns to Bassanio, bids him farewell, and asks to be commended to Bassanio's "honorable wife," for whose cause the loan was arranged in the first place. He tells Bassanio to tell Portia that he, Antonio, loves Bassanio; Bassanio loses only a friend who loves him dearly. This is all, and "if the Jew do cut but deep enough," death will come quickly. Both Bassanio and Gratiano assure Antonio that they would sacrifice everything they have — even their wives — to save him. Both Portia and Nerissa — the Doctor of Law and her clerk of law — comment on this; they doubt that the wives of these loyal friends would "give little thanks" for that offer.
Impatient to proceed, Shylock makes ready to begin, but before he can carry out the sentence, Portia stops him. "There is something else," she says. Shylock is legally entitled to take a pound of Antonio's flesh — but no more. That is, Shylock may not take even a single "jot of blood." She then gives Shylock leave to begin his surgery, warning him that if "one drop of Christian blood" is shed, Shylock's "lands and goods" will be confiscated by "the state of Venice."
