In the carnival in Spain in the beginning of the Twentieth Century, the exiled republican Antonio Galvan comes from Paris masquerade to enjoy the party and visit his friend Capt. Don Pasqual 'Pasqualito' Costelar. However, he flirts with the mysterious Concha Perez and they schedule to meet each other later. When Antonio meets Pasqualito, his old friend discloses his frustrated relationship with the promiscuous Concha and her greedy mother and how his life was ruined by his obsession for the beautiful demimondaine. Pasqualito makes Antonio promise that he would not see Concha. However, when Antonio meets Concha, she seduces him and the long friendship between Antonio and Pasqualito is disrupted

An elderly business tycoon, believed to be dying, decides to give a million dollars each to 8 strangers chosen at random from the phone directory. The various segents of this 1932 film were directed by Ernst Lubitsch, Norman Taurog, Stephen Roberts, Norman Z. McLeod, James Cruze, William A. Seiter, and H. Bruce Humberstone. The huge cast includes Richard Bennett, Gary Cooper, W. C. Fields, May Robson, George Raft, Charles Ruggles, Alison Skipworth, Charles Laughton, Mary Boland, Gene Raymond, Frances Dee, Wynne Gibson, Jack Pennick, Jack Oakie, Roscoe Karns, Cecil Cunningham, Grant Mitchell, Clarence Muse, Joyce Compton, Dewey Robinson and Margaret Seddon.