Let’s say Reuven signed a contract that binds him to pay Shimon $100 per month, for 30 months. Reuven dies after, say, 15 months. What is Reuven’s heirs’ responsibility toward Shimon? Do they have to pay the remaining $1500 immediately? Do they continue paying it over the remaining 15 months? Or are they entirely off the hook? Would it make a difference if the contract was signed over a loan, a sale, a business deal, or any other financial agreement between two parties?
Assume that all parties involved are Jewish, and disregard Dina d’Malchusa Dina for the sake of this question, if it would apply at all. Also assume that there is no collateral being held.