MY ONE AND ONLY centers on Captain Billy Buck Chandler, a transatlantic aviator who flies around the world in pursuit of the championship swimmer Edith, whom he loves. Edith is the current star attraction of Prince Nicolai Erraclyovitch Tchatchavadze’s International Aquacade. Claiming to possess certain compromising photographs, Prince Nicolai blackmails Edith into staying with the Aquacade. In the end, Billy persuades her to return with him to America to get married.