If the size is legal where you live and the sharpened clip (false edge) is legal, the Model 1 is an outstanding knife. I was very happy with one that fortune forced me to sell.
When I replaced it, I got the same idea, but had them use a Model 5 blade, just because I dislike the dip in the blade spine on the Model 1 in front of the guard, which Randall calls the hilt. Apart from the dip and the Model 5 not normally having a sharpened clip, those blades are about identical.
The Model 14 is also very nice if you need a heavier construction, but few people really do; the Model 1 and Model 5 are tough knives.
I have a tendency these days to plug Fallkniven.
www.fallkniven.com Their Models S-1 and A-1 should be looked at before you buy. The cost isn't cheap, but less than a Randall. They use superior steel in the blade (VG-10 cores in 420-J2 sides in a laminated construction) ; they have better quality control than Randall in the main, and they don't ding the logo into the blade so heavily that it leaves a trough around the name. That is often a problem with Randall. He needs to find a better way to mark blades, in my opinion.
Fallkniven handles are usually Kraton or Thermorun, checkered to give a firm gasp when wet or bloody. They do offer a higher priced Northern Lights line with Randall-like leather handles and aluminum butt caps/pommels. Guards are good stainless steel. Pricy, but nice. I have an NL-2 that is among my finest and most loved knives. I can carry it here only on private land, and it's too big for some smaller tasks, though a good chopper if you need to make some small kindling or make a shelter. Lacking a hatchet, which you should have, it'll get you by. Blade length is 20CM or eight inches.
If I had to fight an animal with a knife, that NL-2 would be my choice, although I know of an African lion and some bears being killed with smaller knives. My son did a very workmanlike job on a big coyote or coydog that jumped him. He used a lockblade Benchmade knife with a tanto point.
But overall, the A-1 and S-1 are better knives for most uses. If I was limited to a single sheath knife, it'd probably be a Fallkniven S-1. That's partly because the five-inch blade is legal here, and because it's such a handy knife. The blade looks a lot like a Randall Model 5.
I implore you to look at their line and work the buttons on their site to see these and other models. Don't panic at the prices of most models. They're expressed in Swedish kroner. US dealers charge maybe $225 or less for an A-1 and maybe $175 for a S-1, which is smaller. I think you can scout the Net and buy a new A-1 for $200. Some of their folders with exotic handle materials are pretty expensive, but are works of art. Some models of sheath knives can be ordered with Micarta handles.
Their F-1 model is the official survival knife issued to Swedish military pilots, and the firm holds the Royal Warrant as supplier of knives to His Majesty, the King of Sweden! Yes, the king hunts and fishes, as does the family that designs these knives. That's impressive. To hold a Royal Warrant from a monarch is quite prestigious in Europe and the UK and the products that have that award are usually excellent, as one might suppose. In the UK, James Purdey & Sons and Holland & Holland guns are an example, or Twining's tea. I believe the Range Rover and Rolls-Royce are the automotive choices. Surely, you get the idea... No junk there!
It might be best to start with a Buck Model 105 or Model 119, if the latter is legal where you live. They are very good values for money, and a fine place to begin with sheath knives. Even when you get more expensive knives, you'll probably keep and treasure and use your Buck(s)!
Their Model 120 is the knife in the four, "Scream" movies. It has also had other starring roles in Hollywood. But their smaller models will probably serve you better in normal camping, hiking, and hunting. Those mentioned are also very useful if you ever need one as a weapon.
Older Puma knives are getting pricy, but are fine knives. Some have remarkable stag in the handles, but it varies. Just this week, a New Zealander on one of the two Ruger boards showed his White Hunter, which he received at 14. He has used that knife a lot and loves it. Their Outdoor model is probably better for most of us. I own both and like them, but the White Hunter does remind me of a knife designed by a committee, which it was! An association of professional hunters in the old British East Africa was asked for input, and the WH was what resulted. With wooden handle, it was sometimes sold as the Auto Messer/automobile knife. It was seen as a heavy duty survival knife for a stranded motorist.
Look on YouTube for videos of all these knives. Seeing them up close and hearing the comments may help you reach a decision.