Which of the following is not a feature of partnership?

The correct answer is Option (4) → The business of partnership concern may be carried on by all the partners but any one of them can't act for all.

The essential features of a partnership are two or more persons, an agreement, a business, sharing of profits, and mutual agency. Mutual agency means the business may be carried on by all the partners or any of them acting for all, so each partner is both principal and agent. Option (4) denies this, so it is not a feature.

Option (1) In order to form partnership, there should be at least two persons coming together for a common goal. — A feature of a partnership. A partnership needs at least two persons.

Option (2) Partnership is the result of an agreement between two or more persons to do business and share its profits and losses. — A feature of a partnership. The agreement is the basis of the relationship.

Option (3) The agreement should be to carry on some business. — A feature of a partnership. Mere co-ownership of property is not a partnership; there must be a business.