1. On July 1, 2021, S Furniture, sold to B tables and chairs for a price of P500,000 for the latter's caf and restaurant. B will pay 50% upon delivery and the balance will be paid on June 30, 2022. The goods were delivered to B and the 50% down payment was made by B, but the parties stipulated that the ownership over the books does not pass to B, until full payment of the price. The day before June 30, 2022, the restaurant of B was gutted by fire together with the tables and chairs purchased from S. On June 30, 2022, S demanded payment from B. B contends that he is no longer liable for the balance, because ownership was retained by S, thus, following the res perit domino rule, S should bear the risk of loss. Is B correct. Give reason/s