LIABILITY LIMITS

IS THERE ANY MAX LIMIT FOR LIABILITY

say for e.g

contract value is rs.100/- between  A  & B where B is to perform the Contract

now without  prejudice to any other rights of the contract like Termination , Indemnity , Arbitration etc can the LIABILITY under the contract be LIMITED TO SAY 10 / 20 % OF THE CONTRACT VALUE 

yes if parties desire so, the damages for breach of contract can be fixed in the contract agreement, and such amount  shall be the discretion of the parties.  

Dear Mr.Kiran

Thanks for the response.

LIBBILITY CLAIM MORE THAN CONTRACT VALUE  -  IS IT TENABLE / LEGAL

continuing on this 

my present contract is silent on any Liability limits, i.e there  is NO CLAUSE ON LIABILITY

NOW say   in case of  any  dispute , can the other party PUT A CLAIM which is more than the contarct value OR i.e the amount I am eligible to earn thru the Contarct