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Contracts Keyed to Templin
Walker v. Signal Companies, Inc.
Citation:
84 Cal. App. 3d 982 (1978)Facts
The Walkers sold their Northern California residence in October 1971 and signed a contract in July 1972 to purchase a house in Coronado Cays for $77,400, with completion specified by December 31, 1972. In August 1972, they signed another contract for the construction portion ($38,500) with Coronado Landmark as contractor, which provided for completion within 180 days from commencement. Construction began on October 3, 1972, making the completion deadline April 1, 1973, with April 17, 1973, being the last date for beneficial tax treatment. Construction proceeded slowly with minimal progress between November 1972 and January 1973. By April 17, 1973, the house remained substantially incomplete with numerous unfinished items. The house was not substantially completed until late August, with the notice of completion signed on September 4. Throughout this period, the Walkers received various assurances from representatives of both Coronado Landmark and Signal Landmark that the project would be completed on time.
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