A gas engined saw has a clutch that can slip if overly oiled internally, but electric saws don't use a clutch. Most however, have a safety disconnect to the drive sprocket that shears or otherwise removes power to the chain while the motor runs. The worst problem can be a broken gear within the gearbox and requires dis-assembly to discover. Many modern saws use plastic gears in place of metal ones and are prone to failure. The fact that the chain turns when not under load would seem to eliminate the gearbox, but don't discount that until proven. Hope this helps!
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