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Two wealthy step-siblings of an elite Manhattan prep school make a deliciously diabolical wager of sexual conquest: to de-flower the new headmaster's daughter, who writes an article in Seventeen Magazine about how she intends to stay pure until she marries her boyfriend, before the start of term.
Lascivious blackmailers and inveterate immoralists, these characters behave despicably, but the movie affects a tone of urbane detachment which puts sex in its proper perspective.