You are given a conversation between two people. 'Person1:' and 'Person2:' are used to separate their respective dialogues. You are required to assign a label 'formal' if there is an absence of emotion and a presence of questions anywhere within the conversation. If such pattern is not found assign the label 'informal'.

Person1: I am glad to meet you , Mr.Joey .
Person2:Hello , Mr . lie . I would like to discuss with you the feasibilities of establishing a joint venture with your company .
Person1: That is excellent , your investment proposal is a wise decision . May I have some idea of your suggestion ?
Person2:I suggest that we set up a board of directors for the management of the company and share rights and obligations as equal . That is very important .
formal