The story tells of the Army officer Octavio and his consuming love for Giuditta, a passionate spitfire, who leaves him because he refuses to desert the colours for her; their chance meeting several years afterwards comes too late, though they realise how much they have lost.

It's carnival in Paris and lawyer Paul is with his wife Angèle from London to visit his journalist friend Georges and his wife Marguèrite. At the upcoming opera ball, the two women want to put their husbands to the test.