Hark, CPA, negligently failed to follow generally accepted auditing standards in auditing Long Corporation's financial statements. Long's president told Hark that the audited financial statements would be submitted to several, at this point undetermined, banks to obtain financing. Relying on the statements, Third Bank gave Long a loan. Long defaulted on the loan. In jurisdiction applying the Ultramares decision, if Third sues Hark, Hark will:

Lose because Hark knew that a bank would be relaying the financial statements.

Win because there was no privity of contract between Hark and Third.

Lose because Hark was negligent in performing the audit.

Win because Third was contributory negligent in granting the loan.