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The fine print on a typical pbook: This book may not be reproduced, in whole or in part, by mimeograph or any other means, without permission. Here's another: All rights reserved, including the right to reproduce this book, or portions thereof, in any form. Third example: All rights reserved. This book, or parts thereof, may not be reproduced in any form without permission.
These were just taken from the first three books I picked up from the stack in my room. I don't know if you want to call this a "license," or some other restriction, but it's pretty clear that while you own the physical book, you don't own the right to reproduce the book.
That being said, was the original question whether you could sell your one and only copy of an ebook, with or without its DRM? Legally, it's an interesting question. If I buy an ebook and read it, then I want to sell my copy to someone else but DRM prevents my doing so, I might actually be allowed by law to sell my copy (my license, in effect), and if the original seller doesn't provide some other way to transfer ownership, it might be argued that it's permissible for the new purchaser to break the DRM. This assumes that I do not retain a copy of the work, of course -- I am not "reproducing" or "copying" the work, but transferring it. From an electronic point of view, this distinction is meaningless, but from a legal point of view it might not be.
Nate, is that what you were really asking?
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