simple replacement?

simple replacement?

                                <form action="/contact-me/" method="get" name="contactform">
                                    <input type="text" name="name" id="name" value="Name" />
                                    <input type="text" name="email" id="email" value="Email" />
                                    <input type="text" name="telephone" id="telephone" value="Phone Number" />
                                    <input style="padding-top: 10px; padding-left:40px;" type="image" src="/media/images/base/contact_button.jpg" alt="submit" id="button" />
                                </form>

what I want to do is empty the html of value on click

                <script type="text/javascript">
                <!--
                    $(document).ready(function() {
                        $("#name").click(function() {
                        var grox = "";
                        $("#name").html(grox);
                        return false;
                        });
                    });
                </script>

etc? but although the .click(function()  is found it doesnt chane the html of the value in the form