Several liability is a contractual structure where each of multiple sellers is liable only for their proportionate share of any warranty or indemnity claim, typically in proportion to their equity ownership in the target. Several liability is the more seller-favourable allocation between multiple shareholders and is the norm in Australian deals with diverse equity ownership (such as those involving multiple founders, employee shareholders, or retired partners).
The choice between joint and several, and several only, can be modulated by separate per-seller caps and by carve-outs (for example, joint and several liability for specific indemnities but several liability for general warranties).