said first elongated member (3) having a curved anvil (13) adjacent one end (3′) thereof and a handle portion (3″) adjacent the other end, said second elongated member (5) having a knife blade (11) adjacent one end (5′) thereof and a handle portion (5″) adjacent the other end, said knife blade (11) having a cutting edge (11′) and said curved anvil (13) of said first elongated member (3) having a slot (13′) therein for receiving the cutting edge (11′) of said knife blade (11) when said elongated members (3,5) are moved to a closed position by squeezing said handle portions (3″, 5″) together,

said cutting tool (1) further including a spring (15) to bias said handle portions (3″, 5″) of said elongated members (3,5) apart toward an open position to separate said knife blade (ll) and curved anvil (13) to receive the pipe (2) therebetween, and

a locking mechanism to selectively lock said first and second elongated members (3,5) in said closed position, said locking mechanism including a substantially U-shaped bail member (20) and a substantially C-shaped catch member (40), said U-shaped bail member (20) having two legs (22) and a base portion (24) extending therebetween, said legs being pivotally mounted to the handle portion of one of the elongated members for movement relative thereto about a second pivotal axis (30) with the base portion (24) of the bail member (20) spaced from said second pivotal axis (30), said C-shaped catch member (40) being fixedly mounted to the handle portion of the other elongated member at a location therealong spaced farther from the first pivotal axis (9) of the cutting tool (1) than the spacing of said second pivotal axis (30) of the bail member (20) from said first pivotal axis (9),

said handle portion of the other elongated member having a surface (5′″) extending away from the first pivotal axis (9) of the cutting tool (1) toward the C-shaped catch member (40), said bail member (20) being manually positionable about the second pivotal axis (30) with the legs (22) thereof extending toward the handle portion of the other elongated member and with the base portion (24) of the bail member (20) positioned to abut the surface (5′″) of the handle portion of the other elongated member at an acute angle (A) as the handle portions (3″, 5″) are moved together toward said closed position, said base portion (24) of the bail member abutting and sliding along said surface (5′″) away from said first pivotal axis (9) as said handle portions (3″, 5″) are moved together to engage said bail member (20) and said C-shaped catch member (40) in a locking position to secure said elongated members (3,5) in said closed position wherein the legs (22) of the bail member have outer portions (22′) adjacent the base portion (24) thereof spaced a first distance apart (62) and said handle portion of the one elongated member has a substantially U-shaped inner cross section with two legs (56) and a base portion (58) extending therebetween, the legs (56) of said inner cross section being spaced apart a second distance (60) less than said first distance (62), said bail member being manually positionable about said second pivotal axis (30) with the outer portions (22′) of the legs of said bail member frictionally engaging the legs (56) of the inner cross section and holding the base portion (24) of the bail member in a position adjacent the base portion (58) of the inner cross section in a non-locking position with the C-shaped catch member when the elongated members are moved together toward said closed position.