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Lend the device. Whatever book are on it can then be read by the loanee.
It eliminates time restrictions, and seems the most like loaning a print book IMO.
That said, I rarely loaned my print books. After getting books back with dogearred corners or worse, or not getting a book back at all, I stopped loaning.
For my Kindle books, the family members who read similar books as me are using devices registered to my Amazon account.
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