I haven't been able to find this via Google. In particular, I am interested in reading about whether or not a Snow Leopard license is a prerequisite for installing Lion, and the new virtualisation rules.
Does anyone have a link to this?
All Apple's hardware & software product agreements can be found at: http://www.apple.com/legal/sla/
Here's straight link to Lion's agreement.
Answers to your particular interests can both be found under § 2. B:
After Lion is in installed, the license (EA0730 revised 2011-06-01) is amongst the documentation: