The whole house CANNOT use the same license (by license I mean the code
you use to install it, the Product Key on a yellowish sticker on the CD
case).
It's basically one license per person--you are actually allowed to use
the same license on both a laptop and a desktop, but not if your
daughter is using the laptop in her bedroom, while you use the desktop
in the living room. If you use the desktop at home and the laptop while
traveling, then you can put the same license on your desktop and laptop.
However, the Home and Student version comes with three (3) licenses--so
it will handle a small family. It is missing some corporate features and
the EULA demands non-commercial use.
The Standard version only comes with a single license.
General information here:
http://www.microsoft.com/mac/products/Office2008/shop-now.mspx
