After an outlaw, Pancho Lopez (Wallace Beery), steals cattle from the ranch of Gil (Ronald Reagan) and his uncle Henry (Lionel Barrymore), they face foreclosure to banker Hardy (Henry Travers). When Gil's old love, Lucia (Laraine Day), shows up, her husband (Tom Conway) wants to buy the land, believing there is oil on it. However, Pancho soon arrives and kidnaps everyone except Gil. Pancho realizes that Gil had previously saved his life, so he attempts to help Gil get back on track.