Final answer:
Anticipatory Repudiation is the term for when a party to a contract indicates they will not fulfill their obligations before they are required to perform. This action enables the non-breaching party to seek remedies, including contract termination and damages.
Step-by-step explanation:
The term that occurs when a party to a contract either expresses or clearly implies an intention not to perform the contract, even before being required to act, is Anticipatory Repudiation.
This legal concept arises when one party to an agreement declares to the other that they will not fulfill their contractual obligations. When anticipatory repudiation occurs, the non-breaching party is entitled to seek legal remedies, which may include terminating the contract and pursuing damages.