The film was written by Jane C. Stanton and stars Pamela Sue Martin, Parker Stevenson, and Betsy Slade.

[1] In 1955 Springfield, Massachusetts, Abby Reed and Muffy Pratt are best friends and roommates at Penfield Academy, an all-girls boarding school.

Abby, the conventionally beautiful one of the pair, confesses she almost lost her virginity to her boyfriend Michael, who attends the nearby all-boys school St. Ambrose.

When he finds her next to his car, she propositions him to take her virginity at that moment; he resists, saying she's in the wrong state of mind, but later relents after she taunts him, and they have sex in the backseat.

Before returning to the party, Malcolm confesses that he was a virgin until now and Muffy says she feels no different after having sex and doesn't see "what all the big fuss is about."

The next day, Muffy meets the doctor Frank, a medical student who promises the abortion will be simple and painless.

[3][4][5] Director Peter Hyams had previously made Busting, an R-rated movie about vice cops which had not performed well commercially.

[6] Pamela Sue Martin, Parker Stevenson, Edith Atwater and George O'Hanlon Jr. all would star in The Hardy Boys/Nancy Drew Mysteries later in the 1970s.

[3] Writing for New York, Judith Crist noted that for Summer, "the moral proved to be that loss of virginity [for boys], via an older woman, guaranteed instant maturity, compassion, sensitivity, and creative perception", whereas with Our Time, young women's loss of virginity to their peers comes with a price.

[11] "For the pretty and popular teen-ager, it's the logical step after shaking hands with a boy—and about as meaningful; for the plain-looking and shy girl, it means instant pregnancy, detailed abortion".

[11] Vincent Canby of The New York Times wrote that the film is "a pre‐pill romantic drama designed, perversely, for the prepubescent set" and "combines the worst features of two kinds of ancient Broadway comedy with a gothic lack of sensibility all its own".

[5] Jay Cocks gave a mixed review for Time, but conceded that Hyams "manages the comedy and embarrassment of the first fall mixer well".

"[15] A positive review was given by Kevin Thomas of the Los Angeles Times, who stated that the film "turns nostalgia back on itself with remarkable deftness and subtlety.

[2] A 2011 retrospective review by Glenn Erickson of DVD Savant commended the film for showing the reality of unsafe abortions.

[14] He wrote, "Our Time was perhaps released five years too late, or too soon -- in 1974 almost every critical appraisal described it as Old Fashioned, a throwback to the Blue Denim days.