an apparatus and method for marking points and lines during building construction , includes a layout tool having a plurality of elongate members adjustably secured together for axial extension relative to one another to different lengths , the members defining a tubular body in which a pendulum or plumb rod is suspended for indicating when the tool is vertical in a first plane , and having a level thereon for indicating when the tool is vertical in a second plane perpendicular to the first plane , and pointers at the top and bottom ends of the tool , for alignment of one of the pointers with an existing line or point , whereby another line or point may be marked at the other pointer after the tool has been made vertical in both planes , the plumb rod being enclosed within the tubular body and thus being unaffected by wind . chalk line holders are included for marking a line after the points have been determined . the method of marking points and lines using the apparatus is also disclosed .