The item tooltip will have a line that reads: "Unique" or "Unique when Equipped".
Those items you can only have one of.
If there's no "Unique" line in the item tooltip then you can equip 2.
The particular item in your example has a Unique description so you can only have one.
Scout's Blade
Binds when picked up
Unique <-- (= you can only have/use one)
One-Hand Dagger
49 - 92 Damage Speed 1.70
(41.5 damage per second)
+13 Agility
+5 Stamina
Durability 65 / 65
Requires Level 58
unique you can only have one of in your inventory or on your person
unique when equipped means you can have 10 in your inventory, but only one on your person (this was implemented because some recipes were "unique" meaning people had to sell theirs, make one, trade it, then buy theirs back.
as posted above, if there is no unique, you can equip as many as you can hold