Which of the following is not a feature of partnership?
- AIn order to form partnership, there should be at least two persons coming together for a common goal.
- BPartnership is the result of an agreement between two or more persons to do business and share its profits and losses.
- CThe agreement should be to carry on some business.
- DThe business of partnership concern may be carried on by all the partners but any one of them can't act for all.
Solution & Step-by-step Explanation
According to Section 4 of the Indian Partnership Act, 1932, the business of a partnership can be carried on by all or any of them acting for all. This reflects the principle of mutual agency, where every partner is both an agent and a principal. Therefore, the statement that "any one of them can't act for all" is incorrect and is not a feature of partnership.