Can someone install Lion from a bootable disk created by me?

Hi all,
don't misunderstand me, I'm not asking for something "prohibited". I purchased Lion on day one, then I created a bootable USB HD, formatted my MB hard disk and finally installed the OS.
Now a friend of mine doesn't have a full speed internet connection, so he's asking me if there's a proper way to install Lion on his iMac. To solve the problem, I was guessing if I can lend him my bootable HD so that, after the full installation and after entering his Apple ID, he could be charged in that moment for his licence. Do you know if this procedure works?
Thanks a lot,
Andrea
Italy

Certainly. Your good intentions are laudable; however, what you proposed is not possible: you pay = you download/install; that is the only way it will work. Anything else is illegal.
Here are a couple of links:
iTunes/MAS terms:
http://www.apple.com/legal/itunes/us/terms.html#SALE
Lion SLA (software license agreement) - click on Lion for an automatic download:
http://www.apple.com/legal/sla/
Excerpt:
B. License from Mac App Store. If you obtained a license for the Apple Software from the Mac App Store,then subject to the terms and conditions of this License and as permitted by the Mac App Store Usage Rulesset forth in the App Store Terms and Conditions (http://www.apple.com/legal/itunes/ww/) (“Usage Rules”), youare granted a limited, non-transferable, non-exclusive license:
to download, install, use and run for personal, non-commercial use, one (1) copy of the AppleSoftware directly on each Apple-branded computer running Mac OS X Snow Leopard or Mac OS XSnow Leopard Server (“Mac Computer”) that you own or control;
and:
You may not rent, lease, lend, sell, redistribute or sublicense the Apple Software.

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