Roy Gene Carper v. Kanawha Banking & Trust

An exception to the application of the usury laws may be found in the "time-price" doctrine: in a commercial transaction involving the sale of property by credit arrangement, if the negotiation between the seller and the buyer involves a bona fide quotation of both a cash price and a credit price, the transaction does not involve usury, even though the quoted credit price is such as to exceed the cash price plus lawful interest thereon.