Definition: 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'.
Input:  Person1:       Peter is a bag lady now .  
 Person2:That black sheep . It serves him right .  
 Person1:        He was so rich in the past . Maybe he ’ s regretting his past mistakes now .  
 Person2:It ’ s too late . 

informal