Which among the following is NOT true about the Partnership?

The correct answer is Option (3) → If persons join hands for the purpose of some charitable activity it can be termed as partnership.

Partnership requires 'Business': Charitable activities, social work, or non-profit ventures, while involving two or more people, are not considered a "business" in the legal sense of a partnership because their primary goal is not to earn and share profit. Hence, if persons come together only for a charitable activity (not for profit motive), it cannot be termed as a partnership.