Act I: King Lear announces that he wants to give his kingdom to his three daughters. He has them all tell him they love him, but when Cordelia refuses to pour on the compliments, she gets nothing. Kent is banished for trying to tell the King he is making a mistake, but returns disguised and serves the King again. Regan and Goneril discuss their problems with their father. Burgundy loses interest in Cordelia, but France does not. The Earl of Gloucester's bastard son, Edmund, tricks his father into t hinking that his other son, Edgar, plans to kill him. Edmund then makes Edgar flee by telling him that he is in danger.
Act II: Regan and Cornwall arrive at Gloucester's castle. Edmund fools his father into thinking Edgar has struck him and left. Kent insults Oswald for his refusal to respect the King and is thrown in the stocks by Cornwall as an insult to the King. Lear continues to lose his sanity along with his authoritative presence. After running to Regan, Lear finds that she, too, will not be hospitable to him.
Act III: Lear rages out at a storm. The fool continues his important commentary. Kent finally brings the King to safety in a rock sheltering. Edmund turns his back on his father by informing Cornwall that France is coming with Cordelia to restore t he King's power. A disguised Edgar meets the King and Co. in their shelter. Gloucester then comes by and sends them all to Dover. Gloucester returns to his castle, is tied up by Regan and Cornwall, has his eyes plucked out, and is thrust outside towards D over.
Act IV:Edgar meets a suicidal Gloucester and agrees to help him. Albany shows his nobility, Cornwall dies, and Edmund moves closer to control of the English army. Cordelia longs for her father as France prepares for a battle. Regan discloses to Osw ald her affection for Edmund and tells him to kill Gloucester. Edgar saves Gloucester by tricking him into believing he survived a huge fall, and then by killing Oswald. Lear remorsely meets Cordelia.
Act V:France loses to England and Lear and Cordelia are taken prisoners by Edmund. Edgar kills Edmund. Goneril poisons Regan and then kills herself. Lear is unable to save Cordelia from Edmund's ordered execution and then dies himself after a touch ing moment of remorse.
The summary of this play was taken from http://www.ocf.berkeley.edu/~anthony/Shake2.html