The classic tale of Robin Hood is re-told in this comic spoof. Good King Richard the Lionhearted is being held for ransom by the Duke of Austria. Richard's brother, the inept Prince John, is left in charge of England during the King's absence. The Duke demands a ransom from John to free the king. John takes his subjects to raise the funds, but conspires to keep the the money rather than turn it over to the Duke. Lady Marian overhears the plot and seeks out the help of Robin Hood and his Merry Men.