Is XP legally transferrable?

If I buy a used copy of XP from a seller on ebay, and I get the COA, EULA, and a bill of sale, will I run into a problem with MS trying to activate it?

 

I`m really dont know, but i would think that it is , icant see any reason why when you have all the documents.

 

Transfer to Third Party. The initial user of the Product may make a one-time transfer of the Product to another end user. The transfer has to include all component parts, media, printed materials, 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 transferred Product must agree to all the EULA terms.

 

Thanks guys