Players each have 3 booster packs. Players open one booster pack and choose one card from the pack and then pass the remaining cards to player on their left. They will continue until all cards have been chosen from the first booster pack. Repeat this process for the next two boosters, switching the direction in which the boosters are passed around the table. See this page for comprehensive rules.
Booster draft is a popular limited format used at Friday Night Magic.
40 cards minimum (No maximum)
All cards from the drafted cards that were not put in the main deck.
No Card Limit
There is no limit to number of individual cards that can be played. Example: Having 5 or more of an individual card is permitted.