In those days when Douglas Fairbanks, Jr. was playing any kind of role other than costume swashbucklers, the better to establish his own identity separate from his father, Party Girl was a typical role for him. In Party Girl he plays a rich young playboy during that era of wonderful nonsense who gets himself tricked into a marriage to a gold digging flapper played by Judith Barrie. If Party Girl did anyone's career any good it should have been Barrie.
Almeeda Fowler plays the procurer for her escort service of which Barrie is part. Various businesses use her girls for 'entertainment' and the girls hope to land a rich husband one way or another.
Party Girl is one primitive talkie and it also bares no resemblance to Party Girl made a quarter of a century later with Robert Taylor and Cyd Charisse. Fairbanks is pretty insipid and that doesn't wear well on him.
Lots of pre-Code double entendre in Party Girl. But overall it hasn't worn well over the decades.