Hi Bob,
Yes, so long as the primary user of the Office product on the PC is the
exclusive user of the Office product on the laptop, as per the EULA:
"You may install and use one copy of the Software Product on a single
computer, device, workstation, terminal, or other digital electronic or
analog device (“Deviceâ€). You may make a second copy of the Software Product
and install it on a portable Device for the exclusive use of the person who
is the primary user of the first copy of the Software Product. A license for
the Software Product may not be shared."
Regards,