Abstract: 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.