diff --git a/mysql-test/r/view.result b/mysql-test/r/view.result
index 613939bfdf6..10bbe3d9865 100644
--- a/mysql-test/r/view.result
+++ b/mysql-test/r/view.result
@@ -3844,6 +3844,16 @@ CREATE VIEW v1 AS SELECT a FROM t1;
 ALTER TABLE v1;
 DROP VIEW v1;
 DROP TABLE t1;
+#
+# Bug#47734: Assertion failed: ! is_set() when locking a view with non-existing definer
+#
+DROP VIEW IF EXISTS v1;
+CREATE DEFINER=`unknown`@`unknown` SQL SECURITY DEFINER VIEW v1 AS SELECT 1;
+Warnings:
+Note	1449	The user specified as a definer ('unknown'@'unknown') does not exist
+LOCK TABLES v1 READ;
+ERROR HY000: The user specified as a definer ('unknown'@'unknown') does not exist
+DROP VIEW v1;
 # -----------------------------------------------------------------
 # -- End of 5.1 tests.
 # -----------------------------------------------------------------
diff --git a/mysql-test/t/view.test b/mysql-test/t/view.test
index a788b5ab41e..c0cdd40ddb6 100644
--- a/mysql-test/t/view.test
+++ b/mysql-test/t/view.test
@@ -3869,6 +3869,18 @@ ALTER TABLE v1;
 DROP VIEW v1;
 DROP TABLE t1;
 
+--echo #
+--echo # Bug#47734: Assertion failed: ! is_set() when locking a view with non-existing definer
+--echo #
+
+--disable_warnings
+DROP VIEW IF EXISTS v1;
+--enable_warnings
+
+CREATE DEFINER=`unknown`@`unknown` SQL SECURITY DEFINER VIEW v1 AS SELECT 1;
+--error ER_NO_SUCH_USER
+LOCK TABLES v1 READ;
+DROP VIEW v1;
 
 --echo # -----------------------------------------------------------------
 --echo # -- End of 5.1 tests.
diff --git a/sql/sql_base.cc b/sql/sql_base.cc
index a1f34f6a770..06e4b1d3e63 100644
--- a/sql/sql_base.cc
+++ b/sql/sql_base.cc
@@ -4591,7 +4591,20 @@ int open_tables(THD *thd, TABLE_LIST **start, uint *counter, uint flags)
         safe_to_ignore_table= prelock_handler.safely_trapped_errors();
       }
       else
+      {
         tables->table= open_table(thd, tables, &new_frm_mem, &refresh, flags);
+
+        /*
+          Skip further processing if there has been a fatal error while
+          trying to open a table. For example, this might happen due to
+          stack shortage, unknown definer in views, etc.
+        */
+        if (!tables->table && thd->is_error())
+        {
+          result= -1;
+          goto err;
+        }
+      }
     }
     else
       DBUG_PRINT("tcache", ("referenced table: '%s'.'%s' 0x%lx",