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Jerry Cleggett, descendant of a seafaring, buccaneering family, in order to inherit the family fortune, must marry on the deck of the Jasper B, now rotting on the docks. Aided by an overzealous valet, Jerry looks over a large number of prospective partners; then Agatha Fairhaven, trying to save a fortune of her own, enters his house--seeking protection just as the entire house is being auctioned off. Jerry and Agatha fall instantly in love, and with Jerry dressed in pirate regalia they proceed to the ancestral ship. When their taxicab goes on a wild, driverless spree, the couple are joined by a trio of bandits who have just held up a mailtruck; and they are pursued by local, state, and Federal authorities. Aboard ship, the crew escape the authorities as, following a furious battle, a bomb jars the vessel from her concrete bed and into the water.