After being stripped of most of her financial assets by her embezzling accountant, former model Maddie Hayes discovers that she owns a number of money-losing businesses that were maintained as tax write-offs, including City of Angels detective agency. She decides to sell off the agency, to the dismay of David Addison, the wisecracking investigator who has been running it. David attempts to persuade her that the business has a future and should be kept open.

This episode is a tribute to 1940s film noir, shot mostly in black and white on location at the Aquarius Theater, called "Flamingo Cove" in the show. Maddie and David learn of a murder committed at a 1940s night club. Each dreams the role of the convicted murderer and the circumstances leading to the crime, but each dream sequence is coloured by the bias of the dreamer. Cybill Shepherd performs the big band songs "Blue Moon" and "I Told Ya I Love Ya, Now Get Out". Orson Welles introduces the episode, his last performance before his death.^[32]

After walking in on an office limbo party, Maddie bets David that he will not be able to act like a mature adult for one week. If he loses, he must fire two employees, whereas if she loses she must limbo in front of all the staff. David loses the bet, but Maddie lets him off the hook. The duo are also involved in a case surrounding the kidnapping of a concert pianist.

A teenage Moonlighting fan is forced by his mother to do his homework rather than watch the show. He imagines the regular characters enacting a version of William Shakespeare's play The Taming of the Shrew in period costume and setting but in the style of an episode of the show. Bruce Willis performs the song "Good Lovin'", originally recorded by The Young Rascals.

Maddie's parents throw a party in an attempt to cheer her up, but this just makes her angry. David continues to brood in Los Angeles. He and Herbert, who thinks he has lost Agnes to another man, go out on the town and take two women home. Herbert decides that he cannot go through with it because of his love for Agnes, but David spends the night with his date, which only makes him more depressed. Maddie discovers she is pregnant, but when she calls David to tell him, he is out. She tells Agnes, but instructs her not to tell David.