What is the common cap amount (as a percentage of purchase price)?
Frequency/market practice: Typically, it ranges from 10%-30% of the purchase price, subject to exceptions for key warranties.
Does the cap (and other liability limitations) apply to the whole agreement or just warranties (or particular terms)?
Frequency/market practice: They usually apply to warranties only.
What are the common exceptions to the cap?
Frequency/market practice: Key warranties are generally exceptions (e.g., title, capitalization and authority). Fraud and gross negligence are also exceptions. Often, other specific warranties, e.g., on tax, employment and environmental, are exceptions, capped either at 100% of the purchase price or sometimes subject to specific caps higher than the cap applied to the other warranties.
How long does seller liability survive?
Frequency/market practice: A general survival period of 18-24 months is common, with the exception of key warranties, which may be subject to a longer period.