Jack befriends a princess named Jill, who is being held captive by the giants. Together, they come up with a plan to defeat the giants and return to their normal lives. With the help of some cleverness and bravery, Jack manages to slay the giant and return home.

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On his way to the market, Jack meets a strange old man who offers to trade him a handful of magic beans for the cow. Jack, being a naive and curious young man, agrees to the trade. When he returns home, his mother is furious and throws the beans out the window.