Front Brake Question

I have a question (one of many) about the front brake on my '75 MKIII. When I bought it from my friend the front master cylinder was dry and he told me that this was not an uncommon problem with these bikes if they sit for some time and that something the couldn't remember had to be replaced. So, is there any truth to this and what is it that he said should be replaced before I fill the front master and bleed the front brakes?

Never heard that story before and never had a master cylinder go dry even with leaky seals but they did ruin a new paint job. The bleed nipple will need checking but be very careful as its thin and easily shears, that combined with corrosion fron steel in alloy makes this hard to avoid. Drilling out and retapping to next size up is the solution.

OK, thanks, I wasn't sure what he was talking about so I thought I'd post the question here. Thanks again.