That's a really good question. I think that Apple actually supplies a little piece of paper which has the "license agreement" on it, and that probably constitutes the license in legal terms. Realistically, though, it is meaningless without the install disk. It's hard to argue that if you have the physical media in your hands you don't have a license to use it...

Plus, how many of us have kept all the documents for all the software they've bought over the years?

I'm not a lawyer, though.

Peace,
Drew
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Power to the PowerPC!