Friends:

    How does one live in accordance with the 3rd Precept?

The Third Precept: I hereby accept the training rule of avoiding all Sexual Abuse.

One should cause No Pain to others or oneself in one's own search for pleasure...

Specifically:
One should not mate sexually with another's partner.
One should not mate sexually with engaged or married to another.
One should not mate sexually with minors < 16-18 years of age.
One should not mate sexually with those imprisoned, forced or under the law.
One should not mate sexually with those protected by family or teachers.

From the Buddhist Dictionary:
http://What-Buddha-Said.net/library/Buddhist.Dictionary/index_dict.n2.htm

kāmesu-micchācāra: lit. 'wrong or evil conduct with regard to sensual things';
Unlawful sexual intercourse refers to adultery, and to intercourse with minors or other persons
under guardianship. The abstaining from this unlawful act is one of the 5 moral training rules
(sikkhāpada) binding upon all Buddhists. Through any other sexual act one does not become
guilty of the above transgression, which is considered a great crime. The monk, however,
has to observe perfect chastity by living fully celibate - even without any masturbation.
In many Suttas (e.g. A.X., 176) we find the following explanation:
He avoids unlawful sexual intercourse, abstains from it. He has no intercourse with girls who
are still under the protection of father or mother, brother, sister or relatives, nor with married women,
nor female convicts, nor, lastly, with betrothed girls.

"Illicit sexual behavior, when indulged in, developed, & pursued, is something that leads to hell,
leads to rebirth as a common animal, leads to the realm of the hungry ghosts.
The slightest of all the results coming from illicit sexual behavior is that,
when one becomes a human being, it leads to rivalry & revenge.
http://www.accesstoinsight.org/canon/sutta/anguttara/an08-040.html

"Furthermore, abandoning illicit sex, the disciple of the noble ones abstains from illicit sex.
In doing so, he gives freedom from danger, freedom from animosity, freedom from oppression
to limitless numbers of beings. In giving freedom from danger, freedom from animosity,
freedom from oppression to limitless numbers of beings, he gains a share in limitless freedom from
danger, freedom from animosity, and freedom from oppression. This is the third gift...
http://www.accesstoinsight.org/canon/sutta/anguttara/an08-039.html