A famous knight named Milun from South Wales in Britain falls in love with a beautiful damsel, who returns his sentiments. When Milun’s frequent visits result in her becoming pregnant, she fears for her reputation and hatches a plan to send the baby to her married sister in Northumberland. The baby will bear Milun’s ring around his neck so that when he comes of age, he will know who his father was.

When the lady’s father marries her off to a wealthy nobleman, both she and Milun are sad. However, Milun informs her of a return from an adventure by means of a message tucked into the feathers of his favorite swan. They communicate via the swan for 20 years and even manage to meet a few times.

Meanwhile, Milun’s son grows up to be a knight himself and, marveling at the stories of his father’s prowess, decides to follow his example. He believes that “a man must have a very low opinion of himself, if, when he has been born of such a famous father, he does not establish greater fame beyond his region and country” (101). The son succeeds in his mission to such an extent that he is dubbed “the Peerless One” (101).