Frederich Loren, the eccentric millionaire invites 5 of his enemies in a haunted house he has rented. The five guests are test pilot Lance Schroeder (Richard Long); newspaper columnist Ruth Bridges (Julie Mitchum); psychiatrist Dr. David Trent (Alan Marshal), who specializes in hysteria; Nora Manning (Carolyn Craig), who works for one of Loren's companies; and the house's owner Watson Pritchard (Elisha Cook). Pritchard disapproves of Loren's use of the house for his "party," making it unclear how Loren acquired access to the house in the first place. The guests are promised $10,000 if they will stay the whole night with Frederick and his wife after the doors have been locked. Each guests gets a gun for protection -- this is when the horror starts.