I say "may" because some courts, in some contexts, will not enforce contracts that are too onerous. Still, in negotiating a contract, you certainly daunt want to agree to a damage limitation in the hopes that if it ever mattered, a court will not enforce it.

Some states prohibit disclaimers of responsibility for negligence in some types of contracts. The more general rule is that a party can limit its liability for ordinary negligence, but not gross negligence.

Gross negligence is a difficult concept to define since it lacks a bright-line test. Generally, the concept is that gross "negligence" entails conduct that is almost willful and something worse than just ordinary negligence.

Limitations of Time to Sue

Many agreements have provisions like "No action, regardless of form, arising out of or related to this agreement may be brought by the customer more than one year after a cause of action has arisen." This clause and similar ones reduce the time that the law gives you to file a lawsuit. For example, most states will give you four or five years to file a breach of contract claim. This clause, which you should assume is enforceable, reduces it to one year.