The defendants Coronado Landmark and Signal Landmark contend there is insufficient evidence to support that judgment. ![]() We approach our task keeping in mind that all conflicts in the evidence must be resolved in favor of the judgment and all reasonable inferences indulged in to uphold the verdict. The Walkers sold their residence in Northern California on October 18, 1971, as part of their program to relocate in the San Diego area after Mr. On July 16, 1972, they signed a contract to buy a house for $77,400 in the Coronado Cays development in Coronado. They gave their check for $1,000 to Charles Frederick, who acknowledged receipt on behalf of Coronado Cay Company and Signal Landmark, whom he believed to be its general partner. The contract was approved on July 21, 1972, by Jack Conover, a vice president and director of sales and marketing of Coronado Landmark. Walker was aware of the necessity for construction to be completed within the period which would permit a deferral of all or substantially all of the capital gains tax which would otherwise fall due because of the sale of his first residence.įrederick had filled in the terms of the sale in the blanks of the form contract including the statement, "Home to be completed by December 31, 1972." Mr. 1 He requested a specific date for completion to be set out in the contract. ![]() The Walkers returned to Coronado on August 18, 1972. ![]() When they went to the Coronado Cays development, they were advised by an employee of Coronado Landmark that it was necessary for them to sign another contract before construction of their house could start.
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