[rdouglass]

IMO if the developer (of any software) intends for the user to "try before you buy", they will provide a demo. SEIV has said demo so IMO, the act of "loaning" the game is wrong for both parties; the one asking for the loan and the one doing the loaning. (It would be wrong even if they didn't have a demo.)

Normally EULA state that you don't own the s/w; you just own a license to use it. One solution around the question is you could invite the freind over for a "hot seat" game - then you don't have to worry about breaking the EULA.