The narrator describes the tournament at Ashby and its historical context. At the time of the tournament, the English king Richard I is being held captive in Austria while his brother, Prince John, is plotting with his partisans to extend Richard’s imprisonment so that he can seize the throne. Under John, the nobility—especially the Norman nobility—abuse the common people while the forests have become a breeding ground for outlaws.

Ashby, where the tournament takes place, is a beautiful green valley surrounded by oak trees. There are five challenger knights with their tents set up on one end of the field. The most esteemed challenger, Brian de Bois-Guilbert, occupies the central tent. Knights who want to meet the challengers assemble and prepare on the other end of the field. Nearby, various armorers, blacksmiths, and farriers have set up stalls to provide their services to the knights. The lavish platform of Prince John is set up near the middle of the field.

Isaac arrives at the tournament with his beautiful daughter Rebecca, feeling confident that nobody will mistreat him at such a large public event. Prince John, who enters with Prior Aymer and several of his high-ranking members of his Norman court, notices Isaac (with whom he is negotiating an important loan) and is struck by Rebecca’s beauty.