A folding knife for applying a cutting action includes a blade assembly having a guard configured to cover the cutting edge of the blade when the knife is not in use. The guard is maintained in a normally blade covered position by a resilient member. The blade guard has a guard actuator for providing at least one motion for a user to move the blade guard from the normally blade covered position to an un-guarded or cutting position. The knife further includes an actuator for unlocking the blade assembly from the closed position to a locked open position. Upon depression of the actuator, the blade assembly will automatically open to a locked open position from a locked closed position.