word art

Legal Issues with using fonts in creating and selling word art

I found another thread that discussed legal issues with fonts but it didn't quite deal with my specific question and since I was still confused, I decided to just go ahead and ask the experts!!

Can fonts be legally used to create word art that would be sold as either bmp. files or .png files for digital scrapbooking? Or are you crossing the copyright laws? In particularly with regards to free fonts?

Also, if you do happen to purchase a commercial license of a font, does that give you freedom to create word art?

Is this even an issue since the image is raterized and from what I read on the other post it is only the font software that would be the issue?

Thanks so much!!