The Collaborative International Dictionary of English v.0.48:

Specialty \Spe"cial*ty\, n.; pl. Specialties. [F.
   sp['e]cialit['e]. Cf. Speciality.]
   1. Particularity.
      [1913 Webster]

            Specialty of rule hath been neglected. --Shak.
      [1913 Webster]

   2. A particular or peculiar case. [Obs.]
      [1913 Webster]

   3. (Law) A contract or obligation under seal; a contract by
      deed; a writing, under seal, given as security for a debt
      particularly specified. --Chitty. --Bouvier. --Wharton
      (Law Dict.).
      [1913 Webster]

            Let specialties be therefore drawn between us.
                                                  --Shak.
      [1913 Webster]

   4. That for which a person is distinguished, in which he is
      specially versed, or which he makes an object of special
      attention; a speciality.
      [1913 Webster]

            Men of boundless knowledge, like Humbold, must have
            had once their specialty, their pet subject. --C.
                                                  Kingsley.
      [1913 Webster]

WordNet (r) 3.0 (2006):

specialty
    n 1: an asset of special worth or utility; "cooking is his
         forte" [syn: forte, strong suit, long suit, metier,
         specialty, speciality, strong point, strength]
         [ant: weak point]
    2: a distinguishing trait [syn: peculiarity, specialness,
       specialty, speciality, distinctiveness]
    3: the special line of work you have adopted as your career;
       "his specialization is gastroenterology" [syn:
       specialization, specialisation, specialty,
       speciality, specialism]

Moby Thesaurus II by Grady Ward, 1.0:

170 Moby Thesaurus words for "specialty":
   academic discipline, academic specialty, adjunct, applied science,
   appurtenance, area, arena, aroma, arrangement, art, aspect,
   attribute, badge, bond, brand, business, cachet, calling, career,
   career building, careerism, cast, character, characteristic,
   circumstance, classical education, component, concern,
   configuration, constituent, contents, contract by deed,
   contract of record, contract quasi, core curriculum, course,
   course of study, covenant of indemnity, craft, curriculum, cut,
   debenture, debenture bond, deed, deed of trust, deed poll,
   definiteness, department of knowledge, detail, differentia,
   differential, discipline, distinctive feature, domain, earmark,
   elective, element, factor, feature, field, field of inquiry,
   field of study, figure, fixings, flavor, formal contract, game,
   general education, general studies, group policy, gust, hallmark,
   handicraft, humanities, idiocrasy, idiosyncrasy, implied contract,
   impress, impression, indent, indenture, index, individualism,
   ingredient, insurance policy, integrant, item, keynote,
   liberal arts, lifework, line, line of business, line of work,
   lineaments, major, makings, mannerism, mark, marking, metier,
   minor, mission, mold, mortgage deed, mystery, natural science,
   nature, number, occupation, odor, ology, parol contract, part,
   part and parcel, particularity, peculiarity, policy, practice,
   profession, promissory note, property, proseminar, province,
   pure science, pursuit, quadrivium, quality, quirk, racket,
   recognizance, refresher course, savor, science,
   scientific education, seal, seminar, shape, singularity, smack,
   social science, special case, special contract, speciality,
   specialization, specialness, specialty contract, specificality,
   specificness, sphere, stamp, study, subdiscipline, subject, taint,
   tang, taste, technical education, technicology, technics,
   technology, title deed, token, trade, trait, trick, trivium,
   vocation, walk, walk of life, work



Bouvier's Law Dictionary, Revised 6th Ed (1856):

SPECIALTY, contracts. A writing sealed and delivered, containing some
agreement. 2 Serg. & Rawle, 503; 1 Binn. Rep. 261; Willes, 189; 1 P. Wms.
130. In a more confined meaning, it signifies a writing sealed and
delivered, which is given as a security for the payment of a debt, in which
such debt is particularly specified. Bac. Ab. Obligation, A.
     2. Although in the body of the writing it is not said, that the parties
have set their hands and seals, yet if the instrument be really sealed it is
a specialty, and if it be not sealed, it is not a specialty, although the
parties in the body of the writing make mention of a seal. 2 Serg. & Rawle,
504; 2 Rep. 5 a; Perk. Sec. 129. Vide Bond; Debt; Obligation.