Archibald Burel, a banker, has had enough of his wife cheating on him, and with his best friend Hubert into the bargain! One day he has (at least that is what he thinks!) a bright idea : he asks Sonia, his cousin living in Poland but staying in Paris at the moment, to seduce Hubert. In these conditions, how could Lucienne not fall into his arms again? Unfortunately for Archibald, things do not go (at all!) according to plan : he himself falls for Sonia while Hubert manages to reconquer Lucienne! Dispirited, Sonia decides to return to Warsaw.

1938, France, Paris, at the Superior Conservatory of Dramatic Art ("Conservatoire Supérieur d'Art Dramatique"). The first-year entrance exams are in full swing. Many applicants, few accepted. Isabelle (Janine Darcey) is one of the few chosen. She joins former students from the second and third years, including François (Claude Dauphin) and Cécilia (Odette Joyeux). They attend the drama class run by Professor Lambertin (Louis Jouvet). The young people, passionate and eager to become comedians, clash in tumultuous love affairs, because by dint of acting, they imagine that life is a farce. François, for example, is in love with Isabelle, who also loves him, but is pursued by Cecilia, his former mistress... "Put art in your life and life in your art!"