Assuming that the name of the form element in question is named "Phone", then the new code is correct.
you could clear the default value using a javascript onFocus event, for example, change:
<input name="Name" type="text" id="Name" value="Your Name" size="30" maxlength="50" />
to:
<input name="Name" type="text" id="Name" value="Your Name" size="30" maxlength="50" onFocus="if(this.value == 'Your Name') this.value='';"/>