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1. Being overheard saying something inappropriate.
2. Getting busted looking at a female inappropriately.

Expression originates from reference to accepting a counterfeit 100 dollar bill, although the tie-in is kind of inexplicable. Which somehow adds to the amusement, regardless.
1. Steady! Keep your voice down! I think she can hear you. I'm taking a hundred over here!

2. ...you could totally see right down her shirt, man! I was checking it out and then I noticed she was looking straight at me and making a face. I took a serious hundred on that one.
by exitflagger April 29, 2008
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