Definitions for take the cake
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Princeton's WordNet
take the cake(verb)
rank first; used often in a negative context
"He takes the cake for chutzpah!"
Wiktionary
take the cake(Verb)
To be especially good or outstanding.
take the cake(Verb)
To be particularly bad, objectionable, or egregious.
Citation
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"take the cake." Definitions.net. STANDS4 LLC, 2013. Web. 20 May 2013. <http://www.definitions.net/definition/take the cake>.

