The wife of a Hungarian gentleman tires of helping him cheat and becomes the mistress of a diplomat.When she re-encounters her husband he is enfeebled and ill, so she takes pity on him.

Tino is a painter and occasionally a singer. When he has an opportunity to replace an absent singer, he becomes a sucess as a masqued singer, "Le chanteur masqué". Lisa is a typist who becomes a successful singer, also as a masqued singer, "La chanteuse masquée". Tino the painter falls in love for Lisa the typist, not knowing about her "masqued" activities. On the stage they are rivals.

A wealthy banker who takes his accountant's name after multiple incidents is forced to pass off his girlfriend as his daughter. But the truth is coming out. The banker's wife then favors the marriage of the young girl, which creates a new intimacy in her household.