In this coming of age film, a group of teenage friends go an adventure one night after their high school graduation. Longtime buddies Curt (Richard Dreyfuss), Steve (Ron Howard), John (Paul Le Mat) and Terry “The Toad” (Charles Martin Smith) meet at a parking lot to hang out on the night before Curt is supposed to leave with Steve to start college in the northeastern United States.

The group splits into pairs, and each pair experiences different adventures throughout the night. Curt meets a mysterious blonde and spends the rest of the evening in pursuit of her. The night eventually comes to an end, but not without complications and unexpected turns.