Fashion model Phyllis Clyne offers a large percentage of her inheritance to the "Honorable Billy," the scion of a titled but impoverished English family, to introduce her into society as his fiancée. The two fall in love, but because of the businesslike nature of their arrangement, both of them try to suppress their feelings. At a social engagement, Billy introduces Phyllis to Lord Sheldon, an older gentleman who has left his wife and earned a reputation as a ladies' man. Worried and jealous, Billy tries to protect Phyllis from Sheldon, but she ignores his warnings and finally runs away with the old rake. As they are driving away, however, they meet with an accident, and Lord Sheldon is killed. Phyllis reveals that the nobleman was her father, whom she had not seen in many years, whereupon Billy asks her to become his real fiancée.