When Optional Redemption Is No Longer Optional

Law360, New York (November 3, 2016, 2:11 PM EDT) -- In "Through the Looking Glass," Lewis Carroll's sequel to "Alice's Adventures in Wonderland," there is a famous exchange between Humpty Dumpty and Alice regarding the meaning of words. Toward the end of that dialogue, Alice asked Humpty Dumpty what he meant by the word "impenetrability." Humpty Dumpty's response was to not only give the word a meaning that would not be found in any dictionary, but to also expand the meaning he gave the word so that it required affirmative action on Alice's part. In response, Alice proclaimed: "That's a great deal to make one word mean." In a recent decision by the U.S. District Court for the Southern District of New York, Wilmington Savings Fund Society, FSB v. Cash America International Inc., Case No.15-CV-5027 (JMF), (S.D.N.Y. Sept. 19, 2016), the word "may" was also seemingly made to mean a great deal....

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