An important aspect of the licensing process for nuclear reactors is providing a reasonable assurance of safety to the general public. This includes modeling potential radionuclide releases from the reactor during normal operations and accident scenarios, which is known as the reactor's source term. A new class of advanced (non-LWR) reactors are being developed which use molten salts as the coolant fluid. Because the molten salt coolant represents a credited barrier for radionuclide transport between the fuel and the environment, a necessary aspect of mechanistic source term (MST) analysis for the KP-FHR is modeling the thermochemistry of molten salts. Provided here is a review of the theory of the thermodynamic principles governing multicomponent phase equilibria, the background of molten salt thermochemistry research, and a summary of the thermochemical data relevant to the KP-FHR coolant salt, Li2BeF4, commonly referred to as "FLiBe". A review of literature is followed by a brief introduction to methods that can be used to model the thermochemical behavior of molten salt mixtures. The methodology outlined is based on the use of a commercial thermodynamic modeling software called FactSage, which is one of only a few available softwares based on the modified quasichemical model (MQM), which is the recommended solution model for molten salts.