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tighten up the banjo bolt and the bleed nipple - then wash it down and look for leaks

no need to rebuild - unless fluid is coming from the piston seal area. the last post is correct if you want to rebuild anyway.

did this just happen or have you been playing with the brakes??

is the fluid on the brake pads - if so you may need to replace them as well.
 

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check your brake line near the caliper - is it wet with fluid - it could be leaking down the line on the outside - then finding its way to the bottom of the caliper...

wipe the whole brake line over - try and find if it is wet along some part of its length.



IF the master cylinder is leaking -I would suspect it from what you have mentioned - is it leaking around the banjo bolt or around the bottom of the reservoir? I presume you have a plastic reservoir ?



You might be real lucky if the brake fluid has not contaminated the pads -
 
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