Atty. A has just passed the bar examination. He bought books worth P200,000.00 from Lawyers Publishing Company on installment. On the day the books were delivered to him, he stored the same at his library. Shortly after, the building housing his office and library was gutted by fire, burning the books. He refused to pay the balance contending that he was not yet the owner of the books, since the company reserved its title when it delivered the same.

Is Atty A. correct? Why? (Please include relevant Philippine law articles if you can as grounds and such, thank you!)