Fox purchases life insurance from Smash Insurance Services Co. In the application for insurance, he states that he is not engaged in a dangerous profession. Smash Insurance later learns that Fox flying fighter planes for a living. Smash has not paid any benefits on the policy. Assuming that flying fighter planes is dangerous, Smash Insurance can claim fraud, but its only remedy is cancellation of the policy. can sue Fox for fraud and either obtain punitive damages or cancel the policy. has not seen defrauded by Fox because it has not been damaged. O has not been defrauded by Fox because the misrepresentation is minor