Set against the colorful backdrop of Victorian Britain, Ivory's (The Indiscretion, etc.) sensual tale begins when the handsome and exotic Stuart Aysgarth, Lord Mount Villiars, returns from Russia to claim his inheritance from a dissolute father, only to find that his shady Uncle Leonard is stealing from the estate.

While Stuart attempts to untie the resulting financial tangles, his coach accidentally kills a valuable lamb owned by luscious young widow Emma Hotchkiss, a former confidence woman now living a quiet life in Yorkshire. Emma tries to recoup her financial loss by means both fair and, eventually, foul; Stuart turns the discovery that she has cooked his books to his own advantage, threatening her with exposure if she doesn't help him double-cross the oily Leonard. As their schemes mature, the two engage in a series of sexual games.