Jack trades his dog for magic beans with an old man at the market. When he returns home without money, his mother is angry that he accepted magic beans instead. The next morning, a beanstalk has grown overnight. Jack climbs it and encounters a giant's wife, who warns him her husband will eat him. Jack returns and steals the giant's guitar but is chased. He calls his mother for an axe and chops down the beanstalk, killing the giant. Jack and his mother are now able to sell the valuable guitar to solve their money problems.