Which of the following situations does not constitute a partnership firm?

All of these

The correct answer is option 4- All of these.

All of these does not constitute a partnership as mere co-ownership of the property does not give rise to the partnership firm. There should be some business that the partners will carry. Joint ownership or sharing of expenses together does not make the friends partners and a partnership firm. A partnership firm is formed when two or more persons agree to share the profits of a business carried on by all or any of them acting for all. The key elements of a partnership are:

• Agreement: There must be an agreement between two or more persons.
• Business: The agreement must be to carry on a business.
• Profit Sharing: The agreement must be to share the profits of the business.
• Mutual Agency: The business must be carried on by all or any of them acting for all. This implies a relationship of mutual agency where each partner can bind the others by their actions related to the business.

Option 1: Joint ownership of a property: Joint ownership of a property alone does not automatically constitute a partnership firm. The co-owners might simply be holding the property together without the intention of carrying on a business and sharing profits from it.

Option 2: Purchase of plant & machinery once by three friends: A one-time purchase of an asset, even if done jointly by multiple individuals, does not necessarily indicate a partnership firm. There is no ongoing business activity or an agreement to share profits from a business.

Option 3: Purchase of land once by two friends: A one-time purchase of land by two friends does not, by itself, establish a partnership firm. There is no indication of a business being carried on or profits being shared from that business.

Therefore, All of these is the correct answer, as none of the situation constitute a partnership firm. They lack the essential element of carrying on a business with the intention of sharing profits.