Set in Paris, the story revolves around three friends—Serge, Marc and Yvan—who find their previously solid 15-year friendship on shaky ground when Serge buys an expensive painting. The canvas is white, with a few white lines.

Serge is proud of his 200,000 franc acquisition fully expecting the approval of his friends.

Marc scornfully describes it as "a piece of white shit," but is it the painting that offends him, or the uncharacteristic independence-of-thought that the purchase reveals in Serge?

For the insecure Yvan, burdened by the problems of his impending doom (wedding) and his dissatisfaction at his job as a stationery salesman, their friendship is his sanctuary...but his attempts at peace-making backfire. Eager to please he laughs about the painting with Marc but tells Serge he likes it. Pulled into the disagreement, his vacillations fuel the blazing row.

Lines are drawn and they square off over the canvas, using it as an excuse to relentlessly batter one another over various failures. As their arguments become less theoretical and more personal, they border on destroying their friendship.