I bought Office 2010. You can install it on a pc and a laptop. I don't have a laptop, but do my work from my home computer as well. Can I install it on my home computer instead of the laptop?
If you want to keep within the terms of the licence agreement, then no.
If you aren't bothered about keeping to your side of the agreement, then there is probably only going to be a problem if Bill Gates gets bored in his retirement and comes round to your house and tries to force you, at gunpoint, to prove that all your licences are legitimate.