From this question I learned that you indeed should not export a local variable's address and use it outside the function in which it was declared.
However, it seems to me that K&R are breaking this rule in the program shown below taken from their book, p. 108.
I'm looking at the line lineptr[nlines++] = p; inside the function readlines. Why is it here OK to "export" p and use it later outside readlines?
#include <stdio.h>
#include <stdlib.h>
#include <string.h>
#define MAXLINES 5000
char *lineptr[MAXLINES];
int readlines(char *lineptr[], int nlines);
void writelines(char *lineptr[], int nlines);
void qsort(char *lineptr[], int left, int right);
int main(int argc, char *argv[])
{
     int nlines;
     if((nlines = readlines(lineptr, MAXLINES)) >= 0) {
          qsort(lineptr, 0, nlines-1);
          writelines(lineptr, nlines);
          return 0;
     } 
     else {
          printf("error: input too big to sort\n");
          return 1;
     }
}
#define MAXLEN 1000
int getline(char *, int);
char *alloc(int);
int readlines(char *lineptr[], int maxlines)
{
    int len, nlines;
    char *p, line[MAXLEN];
    nlines = 0;
    while((len = getline(line, MAXLEN)) > 0)
       if(nlines >= maxlines || (p = alloc(len)) == NULL)
          return -1;
       else {
            line[len-1] = '\0';
            strcpy(p, line);
            lineptr[nlines++] = p;
       }
    return nlines;
}
void writelines(char *lineptr[], int nlines)
{
     while(nlines -- > 0)
         printf("%s\n", *lineptr++);
}
int getline(char s[], int lim)
{
  int c, i;
  for (i = 0; i < lim - 1 && (c = getchar()) != EOF && c != '\n'; i++)
    s[i] = c;                                                         
  if (c == '\n') {
    s[i++] = c;   
  }
  s[i] = '\0';
  return i;
}
#define ALLOCSIZE 10000
static char allocbuf[ALLOCSIZE];
static char *allocp = allocbuf;
char *alloc(int n)
{
     if(allocbuf + ALLOCSIZE - allocp >= n) {
          allocp +=n;
          return allocp - n;
     }
     else 
          return 0;
}
void swap(char *v[], int i, int j)
{
     char *temp;
     temp = v[i];
     v[i] = v[j];
     v[j] = temp;
}
void qsort(char *v[], int left, int right) {
    int i, last;
    if(left >= right) 
       return;
    swap(v, left, (left+right)/2);
    last = left;
    for(i = left + 1; i <= right; i++)
      if(strcmp(v[i], v[left]) < 0)
         swap(v, ++last, i);
    swap(v, left, last);
    qsort(v, left, last-1);
    qsort(v, last+1, right);
}
 
     
    