The comic mishaps and adventures of a young boy named Ralph, trying to convince his parents, teachers, and Santa that a Red Ryder B.B. gun really is the perfect Christmas gift for the 1940s.

A holiday favourite for generations... George Bailey has spent his entire life giving to the people of Bedford Falls. All that prevents rich skinflint Mr. Potter from taking over the entire town is George's modest building and loan company. But on Christmas Eve the business's $8,000 is lost and George's troubles begin.

Frank Cross is a wildly successful television executive whose cold ambition and curmudgeonly nature has driven away the love of his life. But after firing staff member Eliot Loudermilk on Christmas Eve, Frank is visited by a series of ghosts who give him a chance to re-evaluate his actions and right the wrongs of his past.

Six-year-old Susan Walker has doubts about childhood's most enduring miracle—Santa Claus. Her mother told her the secret about Santa a long time ago, but, after meeting a special department store Santa who's convinced he's the real thing, Susan is given the most precious gift of all—something to believe in.