Mr. Magoo is reading a "whodunnit" novel when his nephew, Waldo, comes in saying he has totalled Magoo's car and needs $100 to buy his uncle a new one. Magoo gives him some money but warns Waldo not to "go outside the law" while obtaining the rest. Magoo becomes suspicious and decides to track down Waldo for his own good donning a phoney beard disguise.