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The other reason is that generally speaking, e-books are not, technically, sold, but rather licensed like software. You have to get deep into the licensing small print to find it, bit typically the language more or less says that you're buying access to the text for as long as it pleases the license granter to allow you that access. They also often include language that precludes transfers of the license to a third party.
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That is quite funny, indeed. I am no lawyer, and I have not yet purchased e-books online, so I did not get my eyes on such license agreement yet. But then, according to what you are saying, I am entering a license agreement saying that I and only I can get my eyes on the text? So technically, I could get in trouble if I let my old mom read a book on my e-reader (and so could she)!? In the same spirit, when I am at my parents', I should not use my father's computer because the software on it is licensed to him only!? Wonder why they call that "family edition" and the likes, then...