Fred Hannah and Mary Grace Hannah v. M. E. Belger, Individually, and M. E. Belger, D/B/A the Exchange Bank, and James L. Moore, Jr.

GOLDBERG, Circuit Judge:

This is a diversity case involving allegations of fraud and a conspiracy to defraud. Finding the evidence insufficient to support the verdict, we reverse.

The present difficulties began in 1964 when Fred Hannah and his wife, plaintiffs herein, and James L. Moore, Jr., agreed to open a Chrysler-Plymouth dealership in Douglas, Georgia. The parties discovered that an initial capital investment of $25,000 would be needed for this purpose, and each agreed to furnish one-half of that amount. In order to raise his half, Moore went to M. E. Belger, the president of the Exchange…