diff --git a/README.md b/README.md
index 4cdacc6..057585b 100644
--- a/README.md
+++ b/README.md
@@ -467,7 +467,7 @@ decode(JSON, Opts) -> Term
   JSON = json_text()
   Term = json_term()
   Opts = [option() | labels | {labels, Label} | {post_decode, F}]
-    Label = binary | atom | existing_atom | sloppy_existing_atom
+    Label = binary | atom | existing_atom | attempt_atom
     F = fun((any()) -> any())
 ```
 
@@ -477,10 +477,11 @@ term
 the option `labels` controls how keys are converted from json to
 erlang terms.  `binary` (the default behavior) does no conversion
 beyond normal escaping. `atom` converts keys to erlang atoms and
-results in a badarg error if the keys fall outside the range of erlang
+results in a `badarg` error if the keys fall outside the range of erlang
 atoms. `existing_atom` is identical to `atom` except it will not add
-new atoms to the atom table. `sloppy_existing_atom` will convert keys
-to atoms when they exist, and leave them as binary otherwise
+new atoms to the atom table and will result in a `badarg` error if the atom
+does not exist. `attempt_atom` will convert keys to atoms when they exist,
+and leave them as binary otherwise
 
 `{post_decode, F}` is a user defined function of arity 1 that is called on each 
 output value (objects, arrays, strings, numbers and literals). it may return any 
diff --git a/src/jsx_to_term.erl b/src/jsx_to_term.erl
index 828073d..52bc724 100644
--- a/src/jsx_to_term.erl
+++ b/src/jsx_to_term.erl
@@ -53,7 +53,7 @@ to_term(Source, Config) when is_list(Config) ->
 parse_config(Config) -> parse_config(Config, #config{}).
 
 parse_config([{labels, Val}|Rest], Config)
-        when Val == binary; Val == atom; Val == existing_atom; Val == sloppy_existing_atom ->
+        when Val == binary; Val == atom; Val == existing_atom; Val == attempt_atom ->
     parse_config(Rest, Config#config{labels = Val});
 parse_config([labels|Rest], Config) ->
     parse_config(Rest, Config#config{labels = binary});
@@ -107,7 +107,7 @@ format_key(Key, Config) ->
         binary -> Key
         ; atom -> binary_to_atom(Key, utf8)
         ; existing_atom -> binary_to_existing_atom(Key, utf8)
-        ; sloppy_existing_atom ->
+        ; attempt_atom ->
             try binary_to_existing_atom(Key, utf8) of
                 Result -> Result
             catch
@@ -140,8 +140,8 @@ config_test_() ->
             parse_config([{labels, existing_atom}])
         )},
         {"sloppy existing atom labels", ?_assertEqual(
-            #config{labels=sloppy_existing_atom},
-            parse_config([{labels, sloppy_existing_atom}])
+            #config{labels=attempt_atom},
+            parse_config([{labels, attempt_atom}])
         )},
         {"post decode", ?_assertEqual(
             #config{post_decode=F},
@@ -167,11 +167,11 @@ format_key_test_() ->
         )},
         {"sloppy existing atom key", ?_assertEqual(
             key,
-            format_key(<<"key">>, #config{labels=sloppy_existing_atom})
+            format_key(<<"key">>, #config{labels=attempt_atom})
         )},
         {"nonexisting atom key", ?_assertEqual(
             <<"nonexistentatom">>,
-            format_key(<<"nonexistentatom">>, #config{labels=sloppy_existing_atom})
+            format_key(<<"nonexistentatom">>, #config{labels=attempt_atom})
         )}
     ].