Antonio is terribly disturbed as he witnesses Portia's fury; he feels that he is "the unhappy subject of these quarrels." Bassanio then swears that if Portia will forgive him this time, he will never break a promise to her again. Antonio speaks up and offers his soul as forfeit, as before he offered his body, in support of Bassanio. Portia accepts Antonio's soul as security for Bassanio's word. "Give him this [ring]," she tells Antonio, "and bid him keep it better than the other." In amazement, Bassanio recognizes it as the same ring which he gave the lawyer. Nerissa then returns Gratiano's ring to her husband, who receives it in similar amazement.
Portia then explains that it was she who was the lawyer Balthasar at the trial of Antonio, and Nerissa was her clerk; they have just returned from Venice. For Antonio, she has a letter containing good news — three of Antonio's ships have safely come into port. Antonio reads the letter himself and is ecstatic: "Sweet lady, you have given me life and living," he says. Nerissa then presents Shylock's deed to Lorenzo and Jessica, bequeathing them all of his possessions.
"It is almost morning," Portia observes, and it will take time to explain how all these things happened. "Let us go in," she says, and she and Nerissa will answer all questions.
