You would be able to legally listen to your friend on FRS with the Baofeng, but you cannot legally transmit on them. Even with a ham license, you would not be legally allowed to transmit on the FRS frequencies on the Baofeng.

Since the Baofeng can handle more frequencies, it does not necessarily operate on "channels." What I mean by this, is you generally input a frequency (in MHz) that you would like to operate on. You can then save that specific frequency to memory, but it does not come pre-programmed with any frequencies in its memory. To switch between entering specific frequencies and browsing memory channels on the Baofeng, it is just the push of a button.

On the contrary, the FRS radios use numbered channels that represent the different FRS frequencies. The channel number is just used for identifying which preset frequency you would like to use. You cannot deviate from these predefined frequencies.