In 1940, a rich American named Latimer is visiting a club in England. Sir Stephen, a gambler deep in debt, befriends Latimer in the hope of winning some money from him. With the help of his friend Derek, Sir Stephen tells Latimer about a ghost that supposedly haunts a manor home that Sir Stephen owns. The ghost is supposed to appear and threaten anyone who tries to spend the night in a certain room of the house. Latimer agrees to bet 1000 pounds that he can make it through the night, and they agree on the terms. Latimer suspects that the two Englishmen plan some sort of trick, and he prepares himself accordingly.