The following will only work if you do not have spaces in your input:

xargs -L 1
xargs --max-lines=1 # synonym for the -L option

from the man page:

-L max-lines
          Use at most max-lines nonblank input lines per command line.
          Trailing blanks cause an input line to be logically continued  on
          the next input line.  Implies -x.

If you want to run the command for every line (i.e. result) coming from find, then what do you need the xargs for?

Try:

find path -type f -exec your-command {} \;

where the literal {} gets substituted by the filename and the literal \; is needed for find to know that the custom command ends there.

EDIT:

(after the edit of your question clarifying that you know about -exec)

From man xargs:

-L max-lines
Use at most max-lines nonblank input lines per command line. Trailing blanks cause an input line to be logically continued on the next input line. Implies -x.

Note that filenames ending in blanks would cause you trouble if you use xargs:

$ mkdir /tmp/bax; cd /tmp/bax
$ touch a\  b c\  c
$ find . -type f -print | xargs -L1 wc -l
0 ./c
0 ./c
0 total
0 ./b
wc: ./a: No such file or directory

So if you don't care about the -exec option, you better use -print0 and -0:

$ find . -type f -print0 | xargs -0L1 wc -l
0 ./c
0 ./c
0 ./b
0 ./a

find path -type f | xargs -L1 command 

is all you need.

The following command will find all the files (-type f) in /path and then copy them using cp to the current folder. Note the use if -I % to specify a placeholder character in the cp command line so that arguments can be placed after the file name.

find /path -type f -print0 | xargs -0 -I % cp % .

Tested with xargs (GNU findutils) 4.4.0

You can limit the number of lines, or arguments (if there are spaces between each argument) using the --max-lines or --max-args flags, respectively.

  -L max-lines
         Use at most max-lines nonblank input lines per command line.  Trailing blanks cause an input line to be logically continued on the next  input
         line.  Implies -x.

  --max-lines[=max-lines], -l[max-lines]
         Synonym  for  the -L option.  Unlike -L, the max-lines argument is optional.  If max-args is not specified, it defaults to one.  The -l option
         is deprecated since the POSIX standard specifies -L instead.

  --max-args=max-args, -n max-args
         Use at most max-args arguments per command line.  Fewer than max-args arguments will be used if the size (see  the  -s  option)  is  exceeded,
         unless the -x option is given, in which case xargs will exit.

@Draemon answers seems to be right with "-0" even with space in the file.

I was trying the xargs command and I found that "-0" works perfectly with "-L". even the spaces are treated (if input was null terminated ). the following is an example :

#touch "file with space"
#touch "file1"
#touch "file2"

The following will split the nulls and execute the command on each argument in the list :

 #find . -name 'file*' -print0 | xargs -0 -L1
./file with space
./file1
./file2

so -L1 will execute the argument on each null terminated character if used with "-0". To see the difference try :

 #find . -name 'file*' -print0 | xargs -0 | xargs -L1
 ./file with space ./file1 ./file2

even this will execute once :

 #find . -name 'file*' -print0  | xargs -0  | xargs -0 -L1
./file with space ./file1 ./file2

The command will execute once as the "-L" now doesn't split on null byte. you need to provide both "-0" and "-L" to work.

In your example, the point of piping the output of find to xargs is that the standard behavior of find's -exec option is to execute the command once for each found file. If you're using find, and you want its standard behavior, then the answer is simple - don't use xargs to begin with.