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Nicole De Loiselle meets American millionaire Michael Brandon while shopping in a store on the French Riviera.  She buys the bottoms and he buys the tops of the same suit of pajamas, while she gives him tips on how to cure insomnia by spelling Czechoslovakia backwards.  Michael continues to have insomnia, however, and demands to change his suite at the hotel.  The managers show him a room but the Marquis De Loiselle is residing there.

The Marquis tries to convince Michael to go in on a deal with him, but Michael refuses until he recognizes the pajama bottoms and the marquis identifies himself as Nicole's father.  Michael agrees to buy a Louis XIV bathtub from the penniless marquis as a gesture of good will and informs the marquis he wishes to marry his daughter.

Michael later proposes to Nicole while she is at the beach with her friend Albert De Regnier, but she refuses because he seems arrogant.  Michael then sends an apology and an invitation to dinner and they fall in love that evening.  At her engagement party, however, Nicole discovers that Michael had been married seven times previously, and each time had arranged a $50,000 per year divorce settlement in a pre-nuptial agreement.  Nicole furiously calls off the wedding, but then agrees to marry for a $100,000 settlement.  They never consummate the marriage and live in separate rooms, despite attempts by Michael to bridge the gap.

Nicole finally wears down Michael's resistance by pretending to have an affair with Albert, and Michael agrees to a divorce.  He commits himself to a sanitarium because Nicole completely broke his spirit, but with their newfound wealth, the marquis buys the sanitarium and Nicole pledges her love to Michael.