This is a Mister Magoo short done by the UPA Studios. There will be spoilers ahead:
This should probably be titled "Magoo Fulfills Contractual Obligation". The main problem here is that the plot's been done better before. Magoo is planning on joining a friend for a cruise, but first runs into a spy who inexplicably throws knives at him. Magoo mistakes him for an old college chum and the running gag begins in the form of the old handshake. It may well be the funniest thing in the cartoon, which isn't saying much.
Magoo is mistaken for a spy and is taken aboard a sub. The spies discover that Magoo isn't the one they were sent to get, take him for a counter-spy and try to dispose of him. There follow more of the typical nearsightedness gags. Magoo accidentally disposes of the sub's crew and finally joins the cruise ship by crashing into it, the running gag appears for the final time and then you have fade out. Magoo's Express was better.
The Magoo theatrical shorts and a Magoo feature film are now available on DVD in a Box set released by Shout! Factory. The box set is excellent.
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