Merritt

This appeal raises the question of the amount which can be recovered under an appeal bond.

In the underlying damage action, on March 11, 1964, Merritt recovered *824 a judgment against J. A. Stafford Company for $434,441.68 for personal injuries suffered in a truck accident; and Merritt’s employer, Sterling Transit Co., Inc., recovered $21,255.93 against Stafford for property damage. Stafford was partially protected by liability insurance written by Reserve Insurance Company, with limits of $100,000 for personal injury and $25,000 for property damage.

Stuyvesant Insurance Company was the reinsurer of Reserve.

Stafford appealed from the judgment, and on May 22, 1964, Stuyvesant Insurance Company filed an “Undertaking Under Section 942 C.C.P.” which recites that Stuyvesant obligates itself “under said statutory obligations” in the sum of $181,883.90.

Section 942 of the Code of Civil Procedure (now § 917.1) provided for the stay of a money judgment, pending appeal, upon the giving of an undertaking by a corporate surety for one and one-half times the amount of the judgment or order. In this case $181,883.90 is exactly one and one-half times the portion of the judgment…