On January 1, 2020, B Bookstore sold to Atty. X law books for the latter's library for a price of P350,000, where Atty. X will pay P100,000 upon delivery and the balance will be paid on December 31, 2020. Delivery was already made but it was mentioned in the contract that the ownership over the books does not pass to Atty. X until full payment of the price. On June 30, 2020 after delivery but before due date of the balance of the purchase price, the office of Atty. X was destroyed by fire together with the books purchased from B Bookstore. Atty. X now argues that ownership was retained by B Bookstore, thus following the res perit domain doctrine, it should bear the risk of loss and he (Atty. X) is no longer liable for the balance. Is Atty. X correct?