Based on the Spanish play "El caudal de los hijos" by José López Pinillos. Francisca, the daughter of a provincial gentleman in Valencia, falls in love with Miguel, a young sculptor. When Miguel leaves for Paris to complete his studies, the lovers promise to wait for each other. During Miguel's absence, however, the Duke of Montesino calls on Francisca's father and asks for her hand in marriage. Her father, pressed for money because of gambling debts, agrees to the match.

Rita Santiago's father, Don Antonio, stubbornly refuses to give permission for her to marry Julio Bertolin, a struggling medical student, because he wants his daughter to marry a rich Brazilian. Because of this, Julio leaves medical school and determines to gain wealth and position for himself by becoming a singer.

After winning a trip to Hollywood, office typist Lolita Álvarez (Cristina Téllez) travels to the city of dreams on an ocean liner in the company of her aunt Gertrudis (Pilar Arcos). During the trip, she meets and falls for banker Alberto Guzmán (Rafael Alcayde), mistaking him for a prince while she herself pretends to be a well-travelled socialite. The film features a flamenco-inspired tap dancing scene performed by dancer Edith Davis.

Ruth Etting sings "Ay, Ay, Ay" in this 1935 film with Mario Álvarez, along with other songs.