The shape of Betty Lou (Clara Bow)'s nipples may be briefly shown through her dress. This is very discreet, and may not be noticeable.
Betty Lou (Clara Bow)'s dress is shown being cut away, presumably to show more cleavage. Only her bra is shown.
Betty Lou (Clara Bow) is shown changing. The upper part of her chest is shown above her breasts, and she is shown in a dress slip later on.
Betty Lou (Clara Bow) is kissed without her consent, and she immediately reacts by slapping the man and expressing her discomfort. But later in the scene she is shown to have actually enjoyed it.
The movie revolves around the idea of "it", meaning the romantic/sexual appeal of someone (typically a woman). Betty Lou (Clara Bow) is portrayed as being this way, and there are many scenes of her being romantically/sexually suggestive towards Cyrus Waltham (Antonio Moreno).