Indemnity Ins. Co. of North America v. Bassett

On February 6, 1924, appel-lees, Bassett and wife, bought a lot in the city of Dallas, intending to build a house thereon and occupy the same as a home. In pursuance of such purpose they entered into a written contract with Dolen & Johnson, dated February IS, 1924, whereby the latter agreed to furnish all labor and material and erect a house upon the lot according to plans and specifications, within 90 days, and to pay $10 per day as liquidated damages for each day’s delay beyond the specified period, except delay due to unavoidable accident or bad weather. Bassett and wife agreed to pay…