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A photo booth contract is a legal document governing the rental of portable photo booths, commonly used for events like weddings and corporate gatherings. These booths capture images in a small space and produce instant photos, maintaining popularity despite the prevalence of cell phone cameras. It's essential for photo booth operators to use contracts for every rental to protect their interests. The video, created by e-forms, the largest database for various documents, explains the need for these contracts and includes an offer for a customizable photo booth template at the end. It emphasizes the importance of having a legal framework for renting out photo booths.