A newly-married couple, scions of local nobility, are living in a castle. There is a huge portrait of "The Lady in Ermine" hanging on a wall. The legend of the painting tells of the Countess' grandmother who gave her honor that the life of her husband might be spared. Upon his safe return, the husband killed his wife for her act. Soon, an Austrian general and his staff are occupying the castle, and the general becomes infatuated with the Countess. He questions the staff and learns of the legend. The Count tries to escape, is caught, and is about to be executed as a spy. The General makes the same proposition to the Countess that another general had made to her grandmother. The Countess is soon seen walking down the corridor to the General's room...clad only in an Ermine coat.