Elliot Gould stars as Les Bingham, who takes umbrage that his ex-wife Katie (Diane Keaton) has a new love in life. What Les doesn't realize is that her new paramour is lawyer Lou Springer (Paul Sorvino). When Katie's sister Sally (Candy Clark) arrives and tells the two about her new, hip '70s marriage contract, Les and Katie decide to try to get together again under a more liberal marriage contract, like Katie's sister. But, unfortunately for the couple, the contract is planted with the seeds of self-destruction, having been drafted by Lou.