Such undertaking with two sureties shall be executed by the transferee or grantee to whom it is alleged the property was so transferred or conveyed to whom it is alleged the property was transferred or conveyed to hinder, delay or defraud creditors, or the successor or assign of such transferee or grantee, in double the estimated value of the property so alleged to have been transferred or conveyed; provided in no case need such undertaking be for a greater sum than double the amount of the debt or liability alleged to be due and owing to the plaintiff in such action, commenced to set aside said transfer and conveyance; and where such estimated value of the property so alleged so to have been conveyed is less than the such alleged to be due and owing to the plaintiff in the action, such estimated value shall be stated in the undertaking; and said undertaking shall be conditioned, that if it be adjudged in said action that the transfer or conveyance was made to hinder, delay or defraud a creditor or creditors, then that the transferee or grantee or the said successors or assigns of such transferee or grantee giving such undertaking, will pay to the plaintiff in said action a sum equal to the value, as the same is estimated in said undertaking, of said property alleged to have been transferred or conveyed to hinder, delay or defraud creditors, or the sum adjudged to be due and owing to the plaintiff in the action.

SOURCE: CCP § 677.