It is stated right in the EULA of Windows.
1 Serial = 1 PC. That is how it has been. OEM copies can not be removed or transferred from the machine they come with. That is part of the OEM License agreement. You agree to it once you start using Windows with that machine.
Retail is a bit different as you can transfer it. But you must meet strict requirements.
If you call with an OEM Copy on another machine, in theory, they should NOT activate it as it does go against the EULA of Windows to transfer that copy to another machine. You can't have the same serial used on more than 1 machine at any time.
These are the terms of use in the end user license agreement that you click F8 and agree to or check the box for to continue the install. These are the full legal terms. Anything other than these terms would be considered illegal and breaking the license agreement with Microsoft.
Quote:
1.1 Installation and use. You may install, use, access, display and run one copy of the Software on a single computer, such as a workstation, terminal or other device ("Workstation Computer"). The Software may not be used by more than one processor at any one time on any single Workstation Computer.
13. SOFTWARE TRANSFER. Internal. You may move the Software to a different Workstation Computer. After the transfer, you must completely remove the Software from the former Workstation Computer. Transfer to Third Party. The initial user of the Software may make a one-time permanent transfer of this EULA and Software to another end user, provided the initial user retains no copies of the Software. This transfer must include all of the Software (including all component parts, the media and printed materials, any upgrades, this EULA, and, if applicable, the Certificate of Authenticity). The transfer may not be an indirect transfer, such as a consignment. Prior to the transfer, the end user receiving the Software must agree to all the EULA terms.
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http://www.microsoft.com/windowsxp/eula/home.mspx
The Retail EULA of XP. Vista and Win7 do not differ much from this EULA. I will find the XP OEM EULA to verify what i have in my post
here.
But if memory serves me properly, which it usually does, XP OEM can be transferred, but you
MUST REMOVE it first from any other PC. It can only be transferred twice. Vista and Win7 you can
NOT transfer at all.