You will likely be able to boot up but not all devices will likely work the first time. You will need to have all the drivers available for devices like the video card, sound card, network interface card. So, you should have access to the internet on another device so you can get these driver packages for installation. Otherwise, you should do a fresh install.
One thing to note though is that if the XP copy is an OEM license, that license is tied to the motherboard of the machine where it was first installed. If it is an OEM license, you will need to purchase a new copy for your use.
Most likely the machine will try to boot, but won’t come up completely. It will stop with the splash screen and restart. You might be able to fix this by booting up on an XP install CD and running a Windows Installation Repair (We call it a second repair because you go passed the Repair Console Screen to the 2nd repair screen). This will revert Windows back to it’s default drivers which should let the MB boot. Then just load up your drivers for the missing devices and it should be good to go. If both MB are identical it will boot right away, no problems. If they are using the same chipset it might boot, if they are different chipsets….. well, not alot of luck there.