Do you think this would be hazing?

On Tuesday I took our ASB students to what is called an inter-high. This is basically a one day event where local ASB leaders get together from different schools to share ideas.  One topic that was discussed was fundraising.  A fundraiser that was shared by two schools was the auctioning off of their seniors. Students and staff could buy a senior for a day. When the senior got to school the next day they would have to do whatever the person who bought them said. Some things they said were typical was making them dress up goofy, following them around to all their classes, making them cook breakfast or lunch and so on.  I thought this was a great idea until I started thinking about my blog. Would this be considered hazing?  I'm a little torn on this one.  If the student volunteers to be auctioned of could the requirements they are expected to complete be hazing?  What are your thoughts on this topic? How could this fundraiser be successful without being worried about hazing?