Vasco is a medical student in Lisbon, supported by his rich aunts, whom he had falsely told he had already graduated. In fact, he devotes himself to a bohemian life, preferring the popular fairs and pretty women, especially Alice, a seamstress from the Castelinhos quarter, which rather upsets her ambitious father, tailor Caetano, who is familiar with Vasco's debts. After failing yet another final exam, he is surprised by his aunts' announcement that they will visit him in Lisbon to see his practice.

Based on the novel of the same name, by Júlio Dantas, this is the first Portuguese all-talking sound film, dramatization of the story of the Fado singer Maria Severa Onofriana, known as A Severa.

The ill-conceived loves of Rosa, a modest seamstress, and Fernando a doctor, leaving in the shadow the fateful passion of António (a liberal) for the young woman.

Geninha and Fortunato are couple who loves music. He's a good songwriter, she sings well. Despite this, their parents hate each other and do not seem willing to allow their marriage, nor the creation of a local radio for them.