Installing Windows 7

This is a silly question but I want to be sure before I go further.
I have 2 product keys and only one disk for the Windows 7 installation.
Both are for Home Premium. One is for my pc that is already installed and the other one is
for my new Laptop that I just bought.

My uncle bought a brand new genuine Windows 7 installation disk, in it's original box with a product key.
Since he lives in Ca, I can't wait for the box to arrive, can I use my other disk to install the OS on my Laptop and just type in the
new product key that he sent me via email?

I think I can, but still I want to be sure
Thanks

You should be able to since both editions are the same. Such as both being Home Premium.

From what I understand though, if you're installing the OEM version, that it varies slightly from the full retail version and must use that install disc with it's respective key.

Are both discs full retail editions or OEM?

Multex, as long as the product key and the source media are both Home Premium Retail editions, then you are good to go.