Studies of jurisdictions emphasizing codified law, such as France and Germany, and of those that regard equity as one of the fundamental pillars of the legal system, such as England, indicate that equity plays an essential role in ensuring flexibility within civil law systems, particularly in the law of contracts. These jurisdictions fully recognize the functions of equity, especially its integration with the case law system. Equity in such countries has been “controlled” to a certain extent, thereby preventing misuse or legal uncertainty. In Vietnam, several unresolved issues in contract law could be addressed by the application of equity. This paper preliminarily analyzes such shortcomings and proposes a reasonable application of equity to enhance the Vietnamese legal system.