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Sweethearts Richard Sutton and Linda Pearson are putting off marriage until they have a regular income. Richard pretends that he has just come into a large inheritance so that he can refuse an unsavory job offer, and when news of his newfound wealth reaches his invalid grandmother, she assumes his uncle in Brazil has died and left him three million dollars. Although Richard wants to correct her misconceptions, her physician advises him not to reveal the truth as it could shock her. Richard's grandmother, unaware that Richard is engaged to Linda, then eagerly arranges for Richard to become engaged to Gwenny Miller, her addled albeit beautiful protégé. Richard is contacted by Barbara Cartwright, the daughter of the town's wealthiest family, who offers to help him out of his dilemma. When Richard visits Barbara, his faculties are slowed by sleeping pills, and he soon finds himself entrapped in another engagement. Linda breaks up with Richard after learning about the other women in his life, and that night Richard goes on a drunken binge. He awakens in playboy Chester Wannamaker's apartment, and discovers Chester's fiancée, chorus girl Lorraine O'Reilly, is also there. Not long after, Barbara and Gwenny confront Richard in the apartment, and matters are further complicated when Lorraine's overly protective, gun-toting gangster brother arrives and insists that Richard, whom he believes is Chester, marry his sister. Richard is saved by his grandmother when she arrives with his uncle, who reveals that he is indeed alive, and that Richard is as poor as he has ever been. Barbara and Lorraine lose interest in Richard, who in turn tells Gwenny that he is not interested in her. Richard then reunites with Linda after explaining the whole situation.