It comes up when you install the software, and you agreed to it when continuing. This version, I think, will be licensed for 1 computer only. Full-priced versions will be licensed for desktop and laptop of same owner. So the legal answer should be "no".
In practice, with Office 2003, the license will be checked online by Microsoft while registering the product, and it won't work on a second computer.
Read through for a more thorough discussion. http://reviews.cnet.com/5208-7813-0.html?forumID=5&threadID=112954&messageID=1282770
You paid $99 for Office 2003, which is cheap. No real reason to "getting back your money"
But you could have asked you daughter if she really needed Office 2003. Most college kids can do everything they need for school with the free OpenOffice suite from www.openoffice.com. Too late now.
Ordered laptop for college-bound daughter with MS Office 2003 since she wanted it. College provides this and other applications free so I'm sitting at home with the never used cd. Can I sell this and can anyone use it? It's the real thing with holograms and the product key on the case. Disc says for distribution with a new PC only. Just want to get my $99.00 back.