Final answer:
The last timely date for a breach-of-contract action against the insurance broker depends on the statute of limitations for breach of contract in the relevant jurisdiction.
Step-by-step explanation:
The last timely date for a breach-of-contract action against the insurance broker would depend on the statute of limitations for breach of contract in the relevant jurisdiction.
Statute of limitations sets the time limit within which a party must file a lawsuit after the occurrence of a certain event. In this case, the event is the insurance broker's failure to procure adequate insurance to cover the losses caused by a potential collapse of the Brady building.
To determine the specific statute of limitations for breach of contract in the given jurisdiction, you would need to consult the applicable laws and regulations.
Generally, the statute of limitations for breach of contract ranges from 3 to 6 years, but it can vary depending on the jurisdiction and the nature of the contract. Once the statute of limitations passes, a party would no longer be able to bring a lawsuit against the insurance broker for the breach of contract.