Which of the following is not a general feature of partnership-

The correct answer is Option (4) → Liability of Partners are limited to the extent of capital contribution.

A partnership needs two or more persons, an agreement, a business and the sharing of its profits, with each partner acting for the others. What it does not give is limited liability: a partner’s liability for the firm’s acts is unlimited, so his private assets can be used to pay the firm’s debts. Limited liability is a feature of a company, not of a partnership.

• Option (1) In order to form partnership, there should be at least two persons coming together for a common goal. — A feature of partnership. The minimum number of partners in a firm is two.

• 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 partnership. The agreement is the basis of the relationship; it can be oral or written.

• Option (3) The agreement should be to carry on some business. — A feature of partnership. Joint ownership of a property, without a business, is not a partnership.