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It is not a problem for books without DRM. With DRM you would need to activate the ADE with the same account/ID. If you share the same PC this wouldn't be an issue since you would already be using the same ID with ADE. (ADE = Adobe Digital Editions)
Note that I don't have my Kobo reader yet but I know how ADE works. If you've already activated ADE on separate PCs with different IDs then you would most likely need to uninstall one copy of ADE on one PC and reinstall it and activate it with the same ID as the other PC. Most likely you would need to log into each other's account at Kobo to download the books from the other person's account.
I'm not going to even attempt to comment on the legality of doing this because most of the fine print on ebooks will tell you that one ebook per person and you can't share. My view is that sharing within your household is okay from a moral standpoint.
HTH
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