A debt created by deed or instrument under seal. The distinction between a speciality debt and one founded on simple contract can be important as there are different limitation periods for bringing actions in relation to specialty debts and simple contractual debts. A debt created by a simple contract remains so even if security for that debt has been created by deed because the security is merely collateral to the debt and does not itself create the debt (Barclays Bank v Beck (1952) 2 QB 47).

For more information on limitation periods, see Practice note, Limitation periods: an overview. For more information on specialties, and the distinction between simple contracts and deeds, see Practice note, Execution of deeds and documents: Deeds, contracts under seal and specialties and The distinction between deeds and simple contracts.