SYSTEM AND METHOD FOR FACILITATING THE LENDING OF DIGITAL CONTENT USING CONTACTS LISTS

A system and method for lending digital content in which a user employs her contacts list to lend and borrow the digital content. The lender initiates the lending process using her local device by generating a lending offer. The lending offer contains an identification of the lender, an identification of the contact and an identification of the digital content to be lent. The lending offer is communicated from the lender's local device through a communication channel to a server which generates a lending offer email and/or a lending notification. The lending offer email and notification are sent to the potential lendee. The potential lendee can click on a URL contained in the email or respond to the lending offer notification to accept the loan. The server processes this acceptance by the lendee and transfers the loaned copy of the digital content to the lendee.