CheckItOut is a great little Google Forms Add-on that allows you to create a simple check-out/ check-in system.
With CheckItOut enabled in Google Forms you simply title the set of items that people will be checking out (iPads for example) then choose if you want people to choose from check boxes, a list, or multiple choice question. After making those selections CheckItOut will create the form formatting for you. Once created you can edit the list of items that being checked-out. When someone uses your form to check-out an item, that item is automatically moved from the check-out field to the check-in field of your form which makes it easy for everyone to see which items are available and which are not.
Applications for Education
CheckItOut will not replace the need for a full-fledged inventory system in a school library. That said, CheckItOut could be a great option for teachers who lend items from their classroom libraries. It's also a good Add-on for people who are in charge of keeping track of iPad or laptop carts.