All the project bikes I have owned have arrived with a non-functional front brake and this CB450 was no exception. A look inside the master cylinder reservoir shows one reason (Photo 1), but as usual there are a few more besides.
An external check showed that the flexible hose was perished but curiously the banjo bolt connections still showed the yellow paint which had been in the factory so long ago (Photo 2). The paint was a marker on various screw fasteners to show that it had been tightened correctly.
Looking here, the lower yoke looks distinctly careworn but