This paper examines contrapuntal narrative features in Henry IV, Part 1 and Part 2, focusing on Falstaff’s wit and Hal’s scheme of a reckoning. Falstaff dominates the stage a lot more than Hal, yet the play’s main narrative evolves with the latter. Hal pursues a plot of legitimation for royal authority which he will inherit from his father, whose kingship is morally and politically embroiled with the charges of usurpation and the murder of Richard II. Hal’s assumed role as a prodigal son is part of his scheme of reckoning, which he performs in a series of sacrificial payment of debts vis-?-vis Hotspur and three father figures, namely the king, Falstaff, and the Chief Justice. Hal’s Machiavellian logic is balanced by Falstaff’s clownish humor. Charged with ambiguities and double meanings, Falstaff’s witty language alludes to different social realities and undermines the gravity of the legitimation plot. The economy of fellowship binding Falstaff and his associates together in a network of obligation proffers an alternative vision of social cohesion, which makes sense beyond the monarchical conception of state Hal seeks to realize under his rule.