Copyright & Fair Use

The First Sale Doctrine, at section 109 of the Copyright Act, https://www.copyright.gov/title17/92chap1.html#109, allows for those who have purchased a copy of a copyrighted work, e.g. a CD, DVD, book, etc., to dispose of the item however they want, including lending, renting, selling, or giving away.  This allows libraries to lend materials, though the Doctrine specifically prohibits sound recordings from being rented unless for no profit, by non-profit educational institutions or libraries.  Of course, borrowers, renters, purchasers, and gift recipients must use the copies in accordance with copyright law and its exceptions/exemptions!