Final answer:
The remedy is called anticipatory breach when one party has made a good faith effort to perform their obligations under a contract and the other party has not performed their obligations.
Step-by-step explanation:
The remedy that is called when one party has made a good faith effort to perform their obligations under a contract and the other party has not performed their obligations is called anticipatory breach. Anticipatory breach occurs when a party indicates that they will not be able to fulfill their obligations before the deadline for performance has arrived. This can take the form of a statement or action that clearly shows the party's intention not to perform.
For example, if Party A agrees to deliver goods to Party B on a certain date, but Party A informs Party B beforehand that they will not be able to fulfill their obligation, Party B can pursue legal remedies for anticipatory breach.