Are these c'tors legal or dangerous?

[John E]

I've just come across this code in a 3rd party library which seems otherwise very professionally written....

// Declaration
class CMyClass
{
public:
	CMyClass(void);
	CMyClass(char* name);
	virtual ~CMyClass(void);

// Data
private:
	char* name;

public:
	char* GetName(void) { return name; }
};


// Constructor #1
CMyClass::CMyClass(void)
: name("Default name")
{
}


// Constructor #2
CMyClass::CMyClass(char* szName)
: name(szName)
{
}

The class seems to work but my question is whether or not these c'tors are dangerous. The member function CMyClass::GetName() successfully returns either the supplied name or the default name depending on which c'tor was used - but it worries me that no memory's been allocated anywhere.

C'tor #2 makes reasonable sense. It's c'tor #1 that worries me. Is the string "Default name" guaranteed to exist for the duration of the object?