After the WWI Armistice Lloyd Hart goes back to practice law, former saloon keeper George Hally turns to bootlegging, and out-of-work Eddie Bartlett becomes a cab driver. Eddie builds a fleet of cabs through delivery of bootleg liquor and hires Lloyd as his lawyer. George becomes Eddie's partner and the rackets flourish until love and rivalry interfere.

Geoffrey Thorpe (Errol Flynn) is an adventurous and dashing pirate, who feels that he should pirate the Spanish ships for the good of England. In one such battle, he overtakes a Spanish ship, and when he comes aboard, he finds Doña Maria (Brenda Marshall), a beautiful Spanish royal. He is overwhelmed by her beauty, but she will have nothing to do with him because of his pirating ways (which include taking her prized jewels). To show his noble side, he suprises her by returning the jewels, and...