We consider a microscopic model for the failure of soft adhesives in tension based on ideas of bond rupture under dynamic loading. By focusing on adhesive failure under loading at constant velocity, we demonstrate that bimodal curves of stress against strain may occur due to effects of finite polymer chain or bond length and characterize the loading conditions under which such bimodal behavior is observed. The results of this analysis are in qualitative agreement with experiments performed on unconfined adhesives in which failure does not occur by cavitation.